發(fā)布時(shí)間：2018-03-24 14:46

  本文選題：并購　切入點(diǎn)：合并商譽(yù)　出處：《石河子大學(xué)》2017年碩士論文

【摘要】：隨著經(jīng)濟(jì)創(chuàng)新的不斷加深和資本市場快速的發(fā)展,越來越多的企業(yè)選擇通過并購的方式發(fā)展市場,企業(yè)并購重組也日益成為大家關(guān)注的重點(diǎn)。并購是企業(yè)擴(kuò)大范疇、加強(qiáng)實(shí)力、提高效率的重要手段,同時(shí)也是我國經(jīng)濟(jì)實(shí)現(xiàn)產(chǎn)業(yè)調(diào)整、效益提升的重要體現(xiàn)。公共關(guān)系行業(yè)作為典型的資金密集型的產(chǎn)業(yè),專業(yè)化服務(wù)以及持續(xù)開發(fā)新媒體的能力,是達(dá)到傳播環(huán)境變革和滿足客戶需求的重要指標(biāo),通過資本運(yùn)作進(jìn)行并購重組能夠促進(jìn)公關(guān)企業(yè)的發(fā)展,達(dá)到提升市場適應(yīng)能力的目標(biāo)。本文以藍(lán)色光標(biāo)發(fā)生并購時(shí)合并商譽(yù)相關(guān)數(shù)據(jù)為基礎(chǔ),從并購產(chǎn)生高商譽(yù)的原因的視角,探討合并商譽(yù)對公司整體并購績效的影響,為規(guī)范企業(yè)合并商譽(yù)的計(jì)量減少合并商譽(yù)減值風(fēng)險(xiǎn)提供借鑒。研究結(jié)果有助于經(jīng)營者對合并成本的準(zhǔn)確把握,為并購后經(jīng)營結(jié)果的預(yù)測提供借鑒,促進(jìn)并購過程的順利進(jìn)行,合并商譽(yù)的計(jì)量方面的研究也有助于企業(yè)經(jīng)營者更好地掌握企業(yè)所擁有資源的真正價(jià)值,有利于企業(yè)提升管理水平,提高經(jīng)營業(yè)績?yōu)樯套u(yù)會計(jì)準(zhǔn)則的制訂和修改給出改進(jìn)意見。論文首先從研究意義以及研究背景進(jìn)行概述,接下來通過對相關(guān)文獻(xiàn)的梳理為下文的案例研究提供理論支撐,尤其是對合并商譽(yù)的相關(guān)理論、國內(nèi)和國外合并商譽(yù)的會計(jì)處理方式進(jìn)行了比較分析;其次,對案例展開分析,研究公司并購過程中重要財(cái)務(wù)數(shù)據(jù)以及并購行為的動因,對并購的流程、并購的方案、并購案例中企業(yè)產(chǎn)生高的合并商譽(yù)進(jìn)行系統(tǒng)的研究和分析。最后,對合并商譽(yù)會計(jì)處理上發(fā)現(xiàn)的問題提出針對性的建議。在研究方法的使用上,本文主要使用了案例分析法,總結(jié)歸納出合并商譽(yù)處理上存在的不足以及改進(jìn)的方向,使用案例研究法有助于發(fā)現(xiàn)企業(yè)存在的問題,對于其他企業(yè)更具有借鑒意義。通過案例分析,得出以下結(jié)論:(1)商譽(yù)的初始計(jì)量沒有詳細(xì)的、明確的可用于指導(dǎo)實(shí)踐的計(jì)量方法;(2)商譽(yù)的后續(xù)計(jì)量中,現(xiàn)有的資產(chǎn)評估技術(shù)不能準(zhǔn)確計(jì)算企業(yè)的市場價(jià)值,最終無法測算商譽(yù)是否存在減值;(3)在信息不對稱的情況下,并購的合并成本包含著并購雙方企業(yè)討價(jià)還價(jià)的因素,企業(yè)的合并成本減去被并購企業(yè)可辨認(rèn)凈資產(chǎn)的結(jié)果應(yīng)該認(rèn)定為合并價(jià)差。通過以上分析,筆者提出以下建議:(1)運(yùn)用市場法對商譽(yù)進(jìn)行估算,結(jié)果可以減弱商譽(yù)被高估的部分,這樣會使商譽(yù)的計(jì)量更合理;(2)對合并商譽(yù)后續(xù)計(jì)量采“兩步走”的方法,逐步過渡到“減值測試法”;(3)加強(qiáng)財(cái)務(wù)顧問的監(jiān)管,健全并且規(guī)范價(jià)值評估市場;(4)加大合并商譽(yù)信息披露的監(jiān)管力度,提高工作質(zhì)量。
[Abstract]:With the deepening of economic innovation and the rapid development of capital market, more and more enterprises choose to develop the market through mergers and acquisitions. At the same time, it is also an important embodiment of the industrial adjustment and efficiency enhancement of our economy. As a typical capital-intensive industry, the public relations industry is capable of providing specialized services and continuously developing new media. It is an important index to achieve environmental change and meet the needs of customers. Mergers and acquisitions through capital operation can promote the development of public relations enterprises. Based on the data related to the merger goodwill when the blue cursor occurs, this paper discusses the impact of the combined goodwill on the overall M & A performance of the company from the perspective of the reasons for the high goodwill. The research results are helpful for managers to accurately grasp the cost of merger, for the prediction of business results after mergers and acquisitions, and to promote the smooth progress of the process of mergers and acquisitions, and provide a reference for standardizing the measurement of the combined goodwill and reducing the risk of the impairment of the combined goodwill. The research on the measurement of mergence goodwill also helps the business operators to better grasp the real value of the resources owned by the enterprises and to improve the management level of the enterprises. Improve the performance of goodwill accounting standards to improve the formulation and modification. Firstly, this paper summarizes the significance of the research and research background, and then provides theoretical support for the following case studies by combing the relevant literature. In particular, the related theory of mergence goodwill, the domestic and foreign combined goodwill accounting treatment methods are compared and analyzed. Secondly, the case analysis is carried out to study the important financial data in the process of M & A and the motivation of M & A behavior. The process of M & A, the scheme of M & A, the case of M & A are systematically studied and analyzed. Finally, some suggestions are put forward to deal with the problems found in the accounting of mergence goodwill. This paper mainly uses the case analysis method to sum up the shortcomings and the direction of improvement in the treatment of the combined goodwill. The use of the case study method can help to find the problems existing in the enterprise. Through the case study, we can draw the following conclusions: 1) the initial measurement of goodwill is not detailed, but can be used to guide practice in the follow-up measurement of goodwill. The existing asset evaluation technology can not accurately calculate the market value of the enterprise, and finally can not calculate whether there is a impairment of goodwill. In the case of information asymmetry, the merger cost of M & A includes the factors of bargaining between the two sides of M & A. The result of the merger cost minus the identifiable net assets of the acquired enterprise should be considered as the combined spread. Through the above analysis, the author puts forward the following suggestion: 1) using the market method to estimate the goodwill, the result can weaken the overvalued part of the goodwill. This will make the measurement of goodwill more reasonable) and adopt a "two-step" approach to the subsequent measurement of combined goodwill, and gradually transition to the "impairment Test method" to strengthen the supervision of financial advisers. Perfecting and standardizing the market of value evaluation and strengthening the supervision of information disclosure of mergence goodwill and improving the quality of work.
【學(xué)位授予單位】：石河子大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F713.8;F271

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