上市公司资产重组的财务及会计问题研究
——以辽宁方大集团资产重组为例
1993年发生的“宝延收购战”拉开了我国证券市场资产重组的序幕，近年来，上市公司的资产重组活动更是以惊人的速度发展，在证券市场上发挥着重要的作用，受到市场的普遍关注。资产重组对优化资源配置，调整产业结构，提高公司的效率和效益有不可估量的作用，但与此同时，资产重组是一把“双刃剑”，并不是所有公司的资产重组都是成功的，重组过程中或后期整合中会出现种种偏差，从而阻碍了重组效应的实现。
随着我国经济的发展，企业为了适应经济发展的需要，不断的探讨资产重组
模式，资产重组是上市公司通过资本市场做大做强的最重要和最主要的途径之一。近年来，我国上市公司并购重组风起云涌，日趋增多。但是，在上市公司并购重组的过程中，也凸显了诸多亚需解决的问题。
随着我国市场经济的不断发展与完善，本文从我过上市公司资产重组的基本
理论开始谈起，接着对辽宁方大集团资产重组的案例进行了详细剖析和评价，通过基本的理论探讨的现在经济体制下我国上市公司资产重组的现状及存在的一些问题，并针对存在问题提出了自己的改善措施。
关键词：资产重组； 整合； 上市公司
The rearrangement of assets of listed company ‘s financial and accounting issues
The reorganization of the group the white stake
— Taking Xinzhou as an example
1993,” Bao extension of the takeover battle” pulled open our country stock market assets reorganization prologue, in recent years, listed companies assets reorganization is developing at an amazing speed, in the securities market play an important role, general concern by the market. Assets reorganization to optimize resource configuration, adjust industrial structure, improve the efficiency of the company and benefit have an inestimable role, but at the same time, the reorganization of assets is a “double-edged sword”, and not all of the assets of the company reorganization is successful, in the process of restructuring and integration of late there will be all kinds of deviation, thereby hindering the effects of recombinant.
With the development of our national economy, the enterprise in order to adapt to the needs of economic development, and constantly on the reorganization of assets mode, assets reorganization of listed companies is bigger and stronger through the capital market is the most important and one of the main ways. In recent years, China’s merger and reorganization of listed companies be raging like a storm, increasing. However, the merger and reorganization of Listed Companies in the process, also highlighted many of the problems to be solved.
Along with our country market economy unceasing development and the consummation, this article from our listed companies assets reorganization ‘s basic Theory begins to mention, then on the Xinzhou group white shares case to carry on the detailed analysis and evaluation, through the basic theory on the present economic system restructuring in China’s listed companies and the status of the existing problems, in view of existing problems and their improvement.
KEYWORDS: reorganization of assets; Is it a listed company
第2章 我国上市公司资产重组概述……………………………… 2
2.1.1 我国上市公司资产重组历程………………………… 3
2.1.2 我国上市公司资产重组方式………………………… 4
第3章 辽宁方大集团资产重组分析……………………………… 5
3.2辽宁方大集团资产重组综合分析………………………….. 6
3.2.1重组前后公司财务情况对比分析……………………… 7
第4章 从辽宁方大集团资产重组过程中发现的问题…………………. 9
4.1.1购买法和权益结合法的运用…………………………. 9
4.1.2关于并购中下推会计的运用…………………………. 9
4.1.3 资产置换的若干会计问题分析……………………… 10
4.1.4 关于资产剥离相关会计问题分析……………………. 10
4.1.5 资产重组中公允价值的运用……………………….. 10
4.2.1在筹资方面，资金结构不合理………………………. 11
4.2.2 在投资方面，投资决策随意性大……………………. 11
4.2.3 在资金营运方面，企业存货比重较大………………… 11
4.2.4 收益分配政策方面，股利分配政策无章可循…………… 11
4.2.5 缺乏有效的防范财务风险的手段……………………. 12
第5章 完善上市公司资产重组问题的对策……………………….. 12
5.1 完善资产重组中会计问题的相关措施……………………… 12
5.1.1 维护市场中介组织的独立性……………………….. 12
5.1.2 加强资产评估建设，使评估结果更加公允可信…………. 12
5.1.3 规范关联交易的信息披露，明确披露范围…………….. 13
5.1.4 规范资产重组中的定价信息的披露………………….. 13
5.1.5 加强外部监管，使资产重组走向规范化………………. 13
5.2 完善资产重组中财务问题的相关措施……………………… 13
5.2.1提高企业财务风险意识……………………………. 14
5.2.2建立对企业的资金集中控制制度…………………….. 14
5.2.3完善企业的财务管理体制………………………….. 14
5.2.4强化企业的财务监督机制………………………….. 15
5.2.5强化财务资金管理……………………………….. 15
5.2.6建立企业财务预警系统……………………………. 15
