资本化规则何以成为造假利器？——以海正药业、凯迪生态为例
案例编号：
CN_2023KJYGSCW_6819
被浏览次数：
6405
案例名称：
资本化规则何以成为造假利器？——以海正药业、凯迪生态为例
译名：
Haizheng Pharmaceutical Company/Kaidi Ecological Company: cost capitalization accounting standard flexibility space and financial adjustment
案例作者：
周华、尤希琦、张蓓、赵宇童
作者单位：
中国人民大学商学院
译者：
-
案例企业：
海正药业、凯迪生态
行业：
制造业、其他
学科领域：
会计与公司财务、其他
规模：
大型
案例语种：
中文
案例类型：
描述型
中文关键词：
费用资本化；财务调节；监管实践
英文关键词：
cost capitalization; accounting standard flexibility space; financial adjustment
中文摘要：
海正药业2015年度开发支出余额较期初增长452%，2016年度开发支出余额再次较期初增长94%，两次受到证监会问询，海正药业回应其研发资本化与费用化之间的选择主要依据内部研究院的判断。2019年度海正药业由于研发进度落后、缺乏竞争优势、不适合继续推进等原因，终止20个研发项目的开发，对研发项目开发支出转费用化处理4.12亿元，前后多次操作对自身利润带来数以亿计的影响。无独有偶，凯迪生态在2015—2017年间通过在建电厂的借款费用资本化操作手段虚增利润6.3亿元，2020年度凯迪生态退市，2021年度湖北省证监局对凯迪生态聘请的会计师事务所进行了处罚。上市公司、中介机构、监管层在会计准则弹性化应用过程中扮演的角色引人深思。
英文摘要：
The balance of development expenditure of Haizheng Pharmaceutical in 2015 increased by 452% compared with the beginning of the period, and the balance of development expenditure in 2016 again increased by 94% compared with the beginning of the period. Haizheng Pharmaceutical was inquired by the CSRC twice. Haizheng Pharmaceutical responded that its choice between R&D capitalization and expenditure was mainly based on the judgment of the internal research institute. In 2019, Haizheng Pharmaceutical stopped the development of 20 R&D projects due to backward R&D progress, lack of competitive advantage, and unfitness to continue to promote, and transferred 412 million yuan of R&D project development expenditure to expensively. The previous and subsequent operations have brought hundreds of millions of impacts on its own profits. Coincidentally, Kaidi Ecology has falsely increased its profits by 630 million yuan from 2015 to 2017 through the capitalization of the borrowing costs of power plants under construction. Kaidi Ecology will be delisted in 2020, and Hubei Securities Regulatory Bureau will punish the accounting firm hired by Kaidi Ecology in 2021. The role played by listed companies, intermediaries and regulators in the flexible application of accounting standards is thought-provoking.
适用对象：
本科、学硕、MBA
编写方式：
二手数据
开发时间：
2022
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