Announcement on Changes in the Company's Accounting Policy
Release time:
2020-08-05
Securities Code: 600668 Securities Abbreviations: Jianfeng Group No.: Pro 2019-018
Bond Abbreviations: 13 Peak 02 Bond Code: 122344
Zhejiang Jianfeng Group Co., Ltd.
Announcement on Changes in Accounting Policies of the Company
The Board of Directors and all directors of the Company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and assumes individual and joint responsibility for the truthfulness, accuracy and completeness of its contents .
Important Note:
● This change in accounting policy will not have a significant impact on the company's financial position and operating results.
Overview of 1. Accounting Policy Change
1 , 2018 6 15 , the Ministry of Finance issued the Notice on the Revision and Issuance of the Format of Financial Statements of General Enterprises for the Year 2018 (Caihui [2018] No. 15 ), which requires non-financial enterprises implementing corporate accounting standards to prepare their financial statements in accordance with the revised format of financial statements of general enterprises.
2 , the Ministry of Finance successively revised and issued "Accounting Standards for Business Enterprises No. 22 -Recognition and Measurement of Financial Instruments", "Accounting Standards for Business Enterprises No. 23 -Transfer of Financial Assets", "Accounting Standards for Business Enterprises No. 24 -Hhedge Accounting" and "Accounting Standards for Business Enterprises No. Accounting standards related to four financial instruments, including 37 -Presentation of Financial Instruments, enterprises listed at home and abroad at the same time since 2018 , , 1 , , , and enterprises listed abroad and adopting international financial reporting standards or enterprise accounting standards to prepare financial reports will be implemented in other domestic listed enterprises since 2019 , , 1 , , .
2019 1 May 1 .
The Company implemented the relevant rules in accordance with the "Notice on Revising and Issuing the Format of General Enterprise Financial Statements for 2018
[2018] No. 15 ) revised and issued by 2018 # above accounting policies. Other unchanged parts are still implemented in accordance with the "Accounting Standards for Enterprises-Basic Standards" and related specific standards issued by the Ministry of Finance in the previous period, the application guide of accounting standards for enterprises, the interpretation of accounting standards for enterprises and other relevant regulations. Revision of the Guidelines for (II) Financial Instruments
. Amend the accounting treatment of impairment of financial assets from "incurred loss method" to "expected loss method", it is required to consider the expected credit loss of financial assets in the future, so as to make provision for impairment of financial assets in a more timely and full manner;
, adjust the accounting treatment of non-trading equity instrument investment, allow enterprises to designate non-trading equity instrument investment as measured at fair value and its changes are included in other comprehensive income for treatment, but the designation is irrevocable, and at the time of disposal, the accumulated fair value changes originally included in other comprehensive income shall not be carried forward and included in the current profit and loss;
, further clarify the judgment principle of financial asset transfer and its accounting treatment;
, hedge accounting standards put more emphasis on the organic combination of hedge accounting and enterprise risk management activities, better reflect the risk management activities of the enterprise.
2019 July . According to the relevant requirements of the convergence provisions in the new financial instruments standard, the company will not make retroactive adjustments to the comparative statements for the same period of the previous year, and this change in accounting policy will not affect the relevant financial indicators of the company 2018 .
This change in accounting policy will not have a significant impact on the company's financial position and operating results.
4. Board Review
2019 April 17 March 26 , the company held the 10th 176 meeting. After review and voting, 9 votes in favor, 0 votes against, 0 votes abstained, the bill on the change of the company's accounting policy was considered and passed.
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Founding Document
Resolution of the 214 Meeting of the 9th Board of Supervisors of the (II)
Independent Opinions of (III) Independent Directors
This is to announce
Zhejiang Jianfeng Group Co., Ltd.
Board of Directors
April 30, 2009
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