Research on the Scope of Consolidated Statements of Commercial Banks

DOI

10.2991/icoeme-19.2019.84How to use a DOI?

Keywords

new accounting standards; consolidated statements; commercial banks; Shanghai Pudong Development Bank; structured entities

Abstract

Whether in the theoretical research or practical operations of accounting, the consolidation of financial statements has always been a difficult problem. For commercial banking business processing, matters related to consolidated statements are more difficult to achieve consistency and unification in practice. In order to promote the development of enterprises and realize the gradual integration of China's corporate accounting standards with international financial reporting standards, the Ministry of Finance issued a new “Enterprise Accounting Standards No. 33 — Consolidated Financial Statements” in February 2014. In 2015, the Ministry of Finance issued the “Corporate Accounting Standards Interpretation No. 8”, which clarified the interpretation of accounting standards related to wealth management products of commercial banks. The new accounting standards have led to the thinking that the issuing or entrusted management should merge various structured entities. Based on the changes in the scope of the consolidated statements of Shanghai Pudong Development Bank from 2013 to 2015, this paper analyzes the impact of the new accounting standards on the scope of consolidated statements of commercial banks. First, the article studies the changes in the scope of the consolidated statements in the new standard. Secondly, based on the perspective of commercial banks, it analyzes the impact of the new standards on the scope of consolidation. It discusses the rationality of the scope of the consolidated financial statements in combination with the case of Shanghai Pudong Development Bank; finally, the relevant conclusions of the scope of the consolidated statements of commercial banks are obtained, which provides guidance for practice.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Weijie Xu
PY  - 2019/06
DA  - 2019/06
TI  - Research on the Scope of Consolidated Statements of Commercial Banks
BT  - Proceedings of the 2nd International Conference on Economy, Management and Entrepreneurship (ICOEME 2019)
PB  - Atlantis Press
SP  - 452
EP  - 457
SN  - 2352-5428
UR  - https://doi.org/10.2991/icoeme-19.2019.84
DO  - 10.2991/icoeme-19.2019.84
ID  - Xu2019/06
ER  -