Strengthen accounting oversight to guard against f -

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Strengthen accounting oversight and prevent financial risks

Abstract: Financial accounting is an important barrier to guard against financial risks. Full accounting in the role of guarding against financial risks, enterprises need to reform the financial accounting system, lack of change in provisioning, interest payable accounts receivable not so decentralized accounting system, and other defects. the current financial risks in the global surge has really Wuzhou shock, Four Seas are rising. Following the 1994 Mexico, the United Kingdom in 1996 after the year in Japan, Albania, Thailand and throughout Southeast Asia, are in a financial storm into. Although countries are taking measures to prevent financial risks, but risks with Opportunity, risk and return go hand in hand. People against risks, but does not completely eliminate risk, but only the risk of possible losses down to the smallest possible level, which is an indisputable fact. Chinese papers League finishing. in a number of measures to guard against financial risks, methods, and enhance the financial accounting, proper accounting internal control system, standard accounting practices, is an extremely important part. It can be said to prevent the risk of financial accounting throughout the whole process is not a moment or a lack of prevention of financial barriers. Later than the bank audit supervision, strengthen the accounting and regulatory matters with the advance in the supervision. This paper on how to play in accounting in the role of guarding against financial risks, make some superficial understanding. one, for the prevention of financial risks to provide timely, accurate and complete accounting information accounting information is a common international language of business. All financial transactions, capital flows, have to be measured by accounting, classification and reporting, must be in the accounting documents, account books, to be recorded and reflected in the report. Therefore, the financial activities of accounting information sources and databases. Financial activities of accounting information is provided timely, accurate and complete financial decisions directly related to the timeliness and accuracy. Accounting information lag, distortion and incomplete, is to produce one of the reasons the heavy financial risks. For example, many financial institutions some time ago misuse accounts for irregular operations,[link widoczny dla zalogowanych], kangaroo off-balance accounts, engage in off-balance operation, out of funds in vitro (outside of the Accounts table) cycle, submitted to higher authorities of false accounting statements, etc., are enormous non-performing assets, as evidenced by a huge financial risk. If the accounting is true, comprehensive, timely, and when the financial risk from the end of the Qingping, the financial decision makers attention to the collection and analysis of accounting information, you can discover and take measures to prevent or resolve. Therefore, decision-making departments to provide timely, real, complete accounting information, for preventing and mitigating financial risks, with the role of eyes and ears. Second, trustworthy the bag. Financial institutions to implement sound management, we must tied this Such as counters establish strict supervision of the accounting system on the outflow of funds to do the monitoring, the error, the accident to eliminate the ordinary course of business processed. Another example is the loan procedures, strengthen financial supervision, and strictly examine the Borrower's financial statements, to prevent the lack of capital, debt financing is not low, unable to repay the company through the smoke screen and all sorts of improper or even illegal means to obtain a loan, the accounting financial supervision department of the loan and credit department of the The use of accounting methods, through inspection, analysis of the Borrower's bank accounts, account books, statements, can also be effective to urge the repudiating those who did not return the money business, timely repayment, in order to resolve the bad assets of financial enterprises. Third, reform of financial enterprises accounting system to further the implementation of sound management China's current effect July 1, according to which For example, the internationally accepted accounting principle of prudence as a general principle, enshrined in the Adhere to the principle of prudence, improving enterprise's ability to prevent risks and ensure the sound operation. However, I believe that the principle of prudence in the current financial enterprises in the financial system has not yet been fully reflected, the main manifestations of the following three: First, extract the bad debt reserve fund was too narrow, the ratio is too low , verification of the approval process cumbersome. Bad debt reserve is reflected on accounting losses and expenses that may occur, it is recorded as costs related to the profit and loss subjects (business costs). In theory, it is a financial reserve of the form of corporate profits, so it as a subsidiary of Basel II capital can be said to guard against financial risks of the capital. If the lack of provision, will affect the capital adequacy ratio, which is not conducive to or insufficient to withstand the potential risk of loss. If put to rest, or because of cancellation is not timely, and thus can not compensate for time loss due to bad loans, so that financial firms will have a number of , resulting in distortion of results of operations accounting. Speaking from the deepening financial reform, it also may affect the process of transition to commercial banks, because the burden can not get rid of non-performing assets (resolution), the inevitable weight faltering progress. Financial enterprises according to our current financial system provides that the mortgage can not be provision for doubtful debts; normal loan loan balance by the beginning of the implementation of the 1% difference between the extraction; write off bad debt loans regardless of the amount, must be reported to the Financial Ombudsman office at the same level examination and approval, escalation head office for approval. These are obviously not conducive to the prevention of financial risks, but also did not fully reflect the accounting standards in the principle of prudence. Should be improved.

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