The Differences between Chinese Accounting Standards for Business Enterprises and International Financial Reporting Standards as well as the Convergence Strategy Method

The continuous development and progress of international economic integration has resulted in the increasing of economic and trade exchanges between various countries.In order to implement a more systematic corporate financial supervision mechanism effectively and adapt to the needs of economic development,it is necessary to clarify corporate accounting standards and international financial reporting standards.The relationship between them are crucial to improve the transparency of financial statements and optimize management levels.This paper analyzes the differences between Chinese business accounting standards and international financial reporting standards as well as discusses the convergence process and convergence strategy methods for reference.

Research on Financial Targets Sequence of Impacting on Business Value—— Based on Data Analysis from Chinese High-tech Listed Firms of Unmodified Auditing Opinions

The high-tech listed firms are not only representative for mainstream of nongovernmental businesses, but also afflux new livingness into the capital market development in China. By considering our country＇s high-tech listed firms as study object, we have disclosed different degree between diverse financial targets and business value, built a financial targets sequence model of impact on business value. The study supplies a certain extent reference to valid supervising and exalting of firms＇ financial core.

Financial Management in New Types of Agricultural Businesses——A Case Study of Farmer's Cooperatives in Weixian County

Since the 18th National Congress of the Communist Party of China( CPC),with the help of state policies,the new types of agricultural businesses have been flourishing. As one of the important forces of new types of agricultural businesses,the farmer's specialized cooperatives grow up rapidly in the development of the rural economy because of their characteristics which are consistent with the current rural economy. financial management is the core of the operation of farmer cooperatives,which directly affects the long-term sustainable development of cooperatives. Through the survey and analysis of the financial management of many farmers' cooperatives in Wei County,Hebei Province,this paper puts forward the deficiencies in the existing financial management of cooperatives. It also brings some reasonable suggestions to regulate and improve the financial management of cooperatives,in order to enhance the market competitiveness of farmers' cooperatives and realize better sustainable development of farmers' cooperatives.

Full-Goodwill Method of Accounting for Business Combinations and Quality of Financial Statements

Accounting goodwill arises as a result of business combinations and appears in a consolidated balance sheet of an acquirer. It is an intangible asset which reflects an excess of value of an acquired business as a whole over a summed value of its identifiable net assets. Since 2010, the International Financial Reporting Standards （IFRS） allow for two alternative methods of measuring goodwill in those business combinations, where an acquirer obtains a control over a target company without obtaining 100% share in its shareholder＇s equity. Under one of these methods, which is called a ＂full-goodwill method＂, the goodwill attributable to non-controlling interests in subsidiary is measured at fair value. Thus, the main accounting problem with this method lies in its requirement to estimate the fair value of non-controlling interests. This paper suggests that the ＂full-goodwill method＂ may sacrifice financial statement reliability for its alleged relevance, with significant potential for ＂creative accounting＂. The problems with reliability and transparency of financial statements, when ＂full-goodwill method＂ is applied, are illustrated by a real-life example of the takeover of Formula Systems Ltd. by Asseco Group （one of the biggest IT companies in Europe, listed on the Warsaw Stock Exchange）.

Can Financial Shared Services Improve Business Performance?Evidence from Chinese A-share Listed Corporations

Taking Chinese A-share listed corporations as sample,this paper studies whether the implementation of financial shared service center,an IT-based financial management practice,can significantly improve the business performance.We conduct Wilcoxon rank sum test and OLS regression model.The results show that there is a significant difference in business performance between the corporations without financial shared service center and the matching samples which have implemented financial shared service.In addition,the positive effect of financial shared services on business performance has a time-lag.As the corporations become adept on financial shared services,their business performance such as profitability,operating ability and growth could be improved steadily.Our study provides suggestions on whether corporations’might upgrade their financial system and how to evaluate the implementation results.

The Trend of Scientific and Refinement of Financial Management in Business Units

In the new era,financial management has become increasingly sophisticated and has had a significant impact and change on various industries and fields.This paper analyzes the key significance of performance appraisal in institutions and proposes ways to enhance performance appraisal innovation,which will prevail in financial management innovation in institutions and upgrade the value of its applications.

基于语料库的商务英语高频描述类词汇搭配研究——以英语单词financial为例

词语搭配已成为语言学研究的热点之一,从1957年搭配概念提出以来,研究者就对搭配的形式及类型进行了深入探讨。随着现代计算机技术文本运行效率的发展,商务英语词汇搭配研究进入了一个崭新的局面。基于语料库的方法,以英语高频单词financial为例,对商务英语描述类词汇的搭配进行定性和定量的分析及研究。

Opinion dynamics in finance and business: a literature review and research opportunities

Opinion dynamics is an opinion evolution process of a group of agents,where the final opinion distribution tends to three stable states:consensus,polarization,and fragmentation.At present,the opinion dynamics models have been extensively studied in differrent fields.This paper provides a review of opinion dynamics in finance and business,such as,finance,marketing,e-commerce,politics,and group decision making.Furthermore,identified research challenges have been proposed to promote the future research of this topic.

Alternative measure of financial development and investment-cash flow sensitivity:evidence from an emerging economy

This study examines the impact of financial development on corporate investment in terms of their influence on financing constraints.This study also tries to find the effect of financial development on the investment-cash flow sensitivity across the size,degree of financial constraints and group affiliation of the firm.This study employs dynamic panel data model or more specifically system generalized method of moments(GMM)estimation technique.The estimation results reveal that cash flow affects the investment decision of the company positively,which implies that Indian firms are financially constrained.Also,we observe that financial development reduces the investment-cash flow sensitivity and the effect of financial development is more prominent for small size and standalone firms.The results are robust across the period and,for both financially constrained and unconstrained firms.This study contributes to the existing literature by analyzing the impact of financial development on the role of cash flow in determining investments undertaken by the Indian firms,which is an unexplored issue from an emerging market perspective.

Artificial Intelligence Based Optimal Functional Link Neural Network for Financial Data Science

In present digital era,data science techniques exploit artificial intelligence(AI)techniques who start and run small and medium-sized enterprises(SMEs)to have an impact and develop their businesses.Data science integrates the conventions of econometrics with the technological elements of data science.It make use of machine learning(ML),predictive and prescriptive analytics to effectively understand financial data and solve related problems.Smart technologies for SMEs enable allows the firm to get smarter with their processes and offers efficient operations.At the same time,it is needed to develop an effective tool which can assist small to medium sized enterprises to forecast business failure as well as financial crisis.AI becomes a familiar tool for several businesses due to the fact that it concentrates on the design of intelligent decision making tools to solve particular real time problems.With this motivation,this paper presents a new AI based optimal functional link neural network(FLNN)based financial crisis prediction(FCP)model forSMEs.The proposed model involves preprocessing,feature selection,classification,and parameter tuning.At the initial stage,the financial data of the enterprises are collected and are preprocessed to enhance the quality of the data.Besides,a novel chaotic grasshopper optimization algorithm(CGOA)based feature selection technique is applied for the optimal selection of features.Moreover,functional link neural network(FLNN)model is employed for the classification of the feature reduced data.Finally,the efficiency of theFLNNmodel can be improvised by the use of cat swarm optimizer(CSO)algorithm.A detailed experimental validation process takes place on Polish dataset to ensure the performance of the presented model.The experimental studies demonstrated that the CGOA-FLNN-CSO model has accomplished maximum prediction accuracy of 98.830%,92.100%,and 95.220%on the applied Polish dataset Year I-III respectively.

A New Approach to Predict Financial Failure： Classification and Regression Trees （CART）

The increase of competition, economic recession and financial crises has increased business failure and depending on this the researchers have attempted to develop new approaches which can yield more correct and more reliable results. The classification and regression tree （CART） is one of the new modeling techniques which is developed for this purpose. In this study, the classification and regression trees method is explained and tested the power of the financial failure prediction. CART is applied for the data of industry companies which is trade in Istanbul Stock Exchange （ISE） between 1997-2007. As a result of this study, it has been observed that, CART has a high predicting power of financial failure one, two and three years prior to failure, and profitability ratios being the most important ratios in the prediction of failure.

Replacing the Annual Budget with Business Intelligence Driver-Based Forecasts

The fixed annual budget process can be a cumbersome and static process, often failing to deliver intended benefits. Typically detached from business operations and strategic planning goals, the annual budget suffers from inherent weaknesses caused by a lack of business intelligence regarding its underlying assumptions. This weakness is well documented in existing literature and there is ample evidence of improved alternatives to static corporate financial planning. One such alternative utilizes business intelligence as an essential component in the annual budget process, along with rolling forecasts as a critical tool. Utilizing business intelligence supported, driver-based rolling forecasting can align an organization’s budget process with strategic objectives and can further the operational and financial strength of an organization, as well as maximize shareholder value. In order to fully explore this topic, this article will present a review of the conventional annual budget process and the manner in which an approach that bases financial forecasts on business intelligence drivers can align operations with strategic objectives and add value to an organization. An assessment of intelligence-supported, driver-based rolling forecasting will also be presented, demonstrating an im- proved approach to the traditional annual budgeting process.

The Influence of Financial Markets on Countries＇ Economic Life

This working paper aims to investigate one of the most present markets in whole economic life： financial market. Even if not everyone is playing on financial market, the result of trading on this markets can be seen and felt by any participant on economic life--individuals, businesses, and government. Those which are participating and trading on financial markets influence economic and social life in a way or another. The paper comes to showing how existence and trading on financial markets can change the money supply and behavior of individuals, businesses, and later they can affect entire economic and social life. The author uses financial data provided by international database such as： Eurostat, central banks, International Monetary Fund, World Bank, BMI Research, website of domestic ministries of finance, and/or economy. The research concluded that in those countries where there is an active and experienced financial market, with a huge volume of transactions, also exists a financial and fiscal stability. Unemployment rate is lower, and a higher level of confidence of investors. A very active financial market can also help governments to maintain their balance of payment in equilibrium and/or to accelerate the development of productive capacity, and for raising and maintaining social stability level.

Integrated Reporting in Business Communication： On the Example of Polish Listed Companies

This work focuses on integrated reporting as an element of companies＇ communication with the external environment. It shows the place and role of integrated reporting in system of communication with various stakeholders and with investors in particular. It also proposes that integrated reporting is a concise communication tool depicting how an organization＇s strategy, governance, performance, and prospects lead to the creation of value over the short, medium, and long term. This means an integrated representation of a company＇s performance in terms of financial and other value relevant information. Thus, integrated reporting goes beyond the traditionally understood business financial reporting. The main aim of this paper is to explain the concept of integrated reporting and to identify the role and place of this reporting type in the system of corporate communication. An additional aim is to show the development of integrated reporting in Poland which is a relatively new EU member as well as emerging market. In conclusion, the considerations stated that the report integrated--as a report integrating financial and non-financial content, covering both past and future （which facilitates decision making）--can effectively satisfy the information needs of investors. In Poland, unfortunately, integrated reporting is not widely used. A company which produces integrated reports is based on different standards. This hampers the comparability of these reports and thus reduces their use by stakeholders. In consequence, the information needs of stakeholders are not satisfactorily addressed.

Importance of Synergistic Value in the Context of Business Combination： A Case Study From Turkey

Considering International Financial Reporting Standards （henceforth IFRS）, although fair value is suggested in the conceptual framework and related standards, concept of measurement is used instead of concept of valuation. Determining the fair value of the acquiree specific into business combination, is needed to identify the fair value of the valuation made beyond the measurement of either monetary items or non-monetary items in the financial statements. Essential reason of the difference between acquired entity＇s fair values as a basis of financial reporting standards and valuation standards, the fair value according to IFRS is equivalent to the market value according to International Valuation Standards （henceforth IVS）. The fair value in accordance with IVS, the combination of the market value, and the synergistic value of the asset are subject to valuation in terms of special purchaser. When business is concerned, considering parameters such as the position in the industry, brand awareness, intellectual capital, geography, cannot be expected to be equal to the fair value of business which simply consists of market value among market participants. The ultimate aim of the study is to illustrate how to determine synergistic value in the terms oflVS which shows the difference between the market value and fair value. Based on the findings of the study, if acquired assets and liabilities are recognized in accordance with IFRS, goodwill comes out during the acquisition. Though, when fair value is determined based on IVS, goodwill is not found, even profitable business combination is realized. This is the result of considered fair value based on IVS Framework, that is the combination of market value of an asset in question and total synergistic value.

Possibilities of Business Restructuring Under the Recession

The decrease in business activity and the fall in the production volume in the sectors of economy relying on long-term crediting is characteristic feature of the modern recessions. The pessimistic expectations of entrepreneurs concerning product demand leads to falling direct investment into business despite unlimited investment opportunities due to the developed capital markets nowadays. As a result it has created the opportunity for the development of such business restructuring types as mergers and acquisitions. Potential investors are different and their investment motivation is different, but the goal is the same--to increase the value of the business and its efficiency as a result of mergers and acquisitions. Utilizing borrowed capital for acquisitions of enterprises has many advantages. However, purchasable enterprises are exposed to several financial risk factors.

Research on Enterprise Financial Management Problems and improved method

China＇s enterprises want to achieve success, good financial management is particularly important. But it is regrettable that our current corporate financial management are still exist many problems, which greatly restricted the development of China＇s enterprises, and it＇ s not conducive to the long term development of our national economy. This paper discusses our current corporate financial management problems, and on this basis this paper put forward practical measures.

Does Intellectual Capital Affect Business Performance？

The aim of this paper is to assess the impact of intellectual capital （IC） on firms＇ financial performance with reference to a sample of companies operating in the European Union （EU） area during the period from 2006 to 2013. The analyses are further differentiated by country of domicile, industry sector, and historical period （pre-crisis and crisis）. We investigate whether the value of the components of IC is a relevant factor that influences firms＇ performance, proposing and testing a modified version of the value added intellectual capital （VAICTM） model which also considers country-specific differences in terms of default risk. The empirical results evidence the relevance of the information on IC disclosed by companies. Differences arise depending on the reference country, industry, and historical period examined. The main limitations of the research are the unbalanced structure of the sample among countries and industries and the specificity of the examined sample （listed firms applying IAS/IFRS system）. The main implication of the study is that, since we demonstrate the value relevance of IC, our findings could be of interest for standard setters for defining a standard （qualitative and quantitative） level of information on human resources to be disclosed by companies in their financial statements. Our contribution to the literature is the proposal of some relevant modifications to the original VAICTM model and providing new evidence on the influence that IC had in recent years on business performance in the EU.

Investor Relations （IR） in Business Communication on the Example of Poland

This paper focuses on investor relations （IR） as an element of companies＇ communication with the external environment. It shows the place and role of IR in communication with the general market, and the stock exchange market in particular. The study is illustrated with an example of IR in Poland, a relatively new European Union （EU） member state and an emerging market. As can be seen, IR goes beyond the traditionally understood maintenance of communication with the capital market. It is also shown that the main role of IR ought to be the reduction of investment risk and enhancement of the companies＇ value, which is of particular significance in light of the current globalization of capital markets. It has been found that Polish companies, especially those listed on the Warsaw Securities Exchange （WSE）, commonly rely on IR as a means of communication with the environment. And yet, as the results of the analysis show, the quality of that communication is still far from satisfactory, despite efforts undertaken by various external entities to encourage more focus on the development of IR, or understanding of the company＇s relevant staff of its important role.