Notice of the Ministry of Finance on Further Improving the Asset Assessment in Enterprises Implementing Debt-for-Equity Swap
财政部关于进一步做好债转股企业资产评估工作的通知
Promulgating Institution: Ministry of Finance
Document Number: Cai Qi [2000] No.734
Promulgating Date: 12/12/2000
Effective Date: 12/12/2000
颁布机关: 财政部
文 号: 财企[2000]734号
颁布时间: 12/12/2000
实施时间: 12/12/2000
To the financial departments (bureaus) and State asset administration offices in all provinces, autonomous regions, municipalities directly under the Central Government, specially designated cities in the State plan, relevant ministries and commissions of the State Council, central enterprise groups, the General Logistics Department of the Chinese People's Liberation Army, and the Xinjiang Production and Construction Corps,
The implementation of debt-for-equity swap in some enterprises is an important measure adopted by the CPC Central Committee and the State Council in an effort to promote the State-owned enterprises to turn losses into profits and to prevent and guard against financial risks. The asset assessment is an important step in the debt-for-equity swap, with a view to further promoting the smooth operation of debt-for-equity swap, regulating the assessment of debt-for-equity swap projects in enterprises, and on the basis of the requirements of the State Council on debt-for-equity swap and current provisions on asset assessment, works on further improving debt-for-equity swap in enterprises are hereby notified as follows:
各省、自治区、直辖市、计划单列市财政厅(局)、国有资产管理办公室,国务院有关部委,中央企业集团,中国人民解放军总后勤部,新疆生产建设兵团:
对部分企业实施债权转股权是党中央、国务院为推动国有企业扭亏脱困,防范和化解金融风险而采取的一项重要举措。资产评估是债转股工作中的重要环节,为进一步推动债转股工作的顺利进行,规范企业债转股项目中的评估工作,根据国务院有关债转股工作的要求和现行资产评估的规定,现就进一步做好企业债转股评估工作通知如下:
1. To attach great importance to the assessment of the enterprises implementing debt-for-equity swap
(1) The asset assessment in enterprises implementing debt-for-equity swap is an important foundation for verifying the value of the real assets of enterprises, determining the contribution amount and proportion of each capital contributing parties, and establishing enterprises in accordance with the law. Enterprises implementing debt-for-equity swap shall attach great importance to the asset assessment work, specify the scope of assessment, do asset inspection and other preparation work in real earnest, and provide relevant materials to assessment institutions in a timely manner; and the assessment institutions shall start work as early as possible to ensure the smooth operation of debt-for-equity swap;
(2) For the purpose of implementing debt-for-equity swap and establishing company in accordance with the law, many department entities will be involved. Each relevant entity shall, based on the general requirements of the debt-for-equity swap and the current provisions on asset assessment, deal with relevant issues concerning asset assessment in enterprises properly, avoid various disturbances, and facilitate the assessment institutions to work in an independent, objective and fair manner; and
(3) The assessment projects in enterprises implementing debt-for-equity swap are restricted by time, the assessment institutions shall, in consideration of the features of debt-for-equity swap in enterprises, formulate effective and practical assessment plan, organize necessary human resources, seize up time and conduct all works in an independent, objective and fair manner, in order to ensure efficient and quality completion of the assessment work.
一、要高度重视债转股企业的评估工作
1.对实施债转股的企业进行资产评估,是核实企业实有资产价值,确定出资各方出资金额和比例,依法设立公司的重要基础工作。实施债转股的企业要高度重视资产评估工作,明确评估工作范围,认真做好资产清查等各项准备工作,应及时向评估机构提供相关的工作资料;评估机构应尽早开展工作,以保证债转股工作的顺利进行。
2.企业实施债转股并依法设立公司所涉及的部门单位较多,各相关单位应依照债转股工作的总体要求和现行资产评估的规定,妥善处理企业资产评估工作的相关问题,消除各种干扰,使评估机构独立、客观、公正地开展工作。
3.债转股企业评估项目时效性较强,评估机构要结合企业实施债转股的特点,制订切实可行的评估方案,组织必要的人力,抓紧时间,独立、客观、公正地开展各项工作,以确保高效、优质地完成评估工作。
2. To simplify working procedures, and accept and handle the assessment projects of enterprises implementing debt-for-equity swap with priority
The debt-for-equity swap is an important measure adopted by the State in promoting State-owned enterprises to shed off poverty for development, as a result, the financial departments (State asset department, similarly hereinafter) at various levels shall provide timely guidance and help to the assessment work in enterprises implementing debt-for-equity swap, and shall further simplify their working procedures in light of the features of the assessment work in enterprises implementing debt-for-equity swap:
(1) Record-filing system shall be adopted for project initiation. Upon approval of the debt-for-equity swap plan of an enterprise, the enterprise shall apply to the financial department at the same level for record-filing for project initiation in accordance with its affiliation relationship. The application and declaration materials for record-filing shall include, with the company seal affixed, the application form for project initiation, the debt-for-equity swap agreement, the balance sheet on the record date of assessment, the business license of corporate legal person, and the registration certificate of the property right of the State assets of the enterprise; and
(2) The assessment projects of enterprises implementing debt-for-equity swap shall be accepted and handled with priority. The financial departments at various levels shall examine and verify the assessment project for debt-for-equity swap submitted by enterprises with priority. The local enterprises shall report upon initial examination by the financial department at provincial level, and the central enterprises shall report directly, to the Ministry of Finance for examination and verification. With respect to any assessment project which conforms to the provisions on current asset assessment administration, the standard of the contents and format of report, the financial department at provincial level and the Ministry of Finance shall complete examination and verification within 15 working days respectively.
二、简化工作程序,优先受理债转股企业的评估项目债转股工作是当前国家为推动国有企业脱困和发展而采取的一项重要措施,各级财政部门(国资部门,下同)要对债转股企业的评估工作及时给予指导和帮助。要根据债转股企业评估工作的特点,进一步简化工作程序:
1.立项采取备案制。企业债转股方案经批准后按照隶属关系向同级财政部门申请立项备案,备案申报材料应包括加盖企业公章的立项申请表、债转股协议、评估基准日的资产负债表、企业法人营业执照、企业国有资产产权登记证。
2.优先受理债转股企业评估项目。各级财政部门对企业报送的债转股评估项目要优先审核。地方企业经省级财政部门初审后报财政部审核,中央企业直接报送财政部审核。对符合现行资产评估管理规定、报告内容及格式规范的评估项目,省级财政部门和财政部应分别在15个工作日内完成审核批复工作。
3. The assessment principle for the part of assets involved in the debt-for-equity swap assessment project
During the debt-for-equity swap assessment, the asset assessment institution involving buy-back or change of equity may treat part of the assets in accordance with the following principles:
(1) With respect to the assessment of the credit assets of enterprises, enterprises and assets assessment institutions shall examine and verify such credit assets as the account receivable and other amounts receivable of enterprises in real earnest, on which basis the assessment institution may judge the possibility of buy-back through comprehensive analysis and judgment of the account receivable age, nature, status of the debtor, etc, and determine the corresponding assessment value. Enterprises shall follow the current financial system during financial treatment;
(2) Enterprises and assessment institutions shall examine and verify real assets (including inventories) in real earnest. The enterprise shall make special explanation on the specific reason, quantity and value of the inventory shortage, inventory surplus and losses on retirement of assets with valid documents, and the assessment institution shall determine the assessment value upon judgment of the truthfulness and reliability thereof;
(3) Long-term investments shall be appraised item by item. If there are real difficulties for assessment, the enterprise shall obtain consent of the asset administrative company prior to assessment, upon which the book value will be presented by the assessment institution. While any long-term investment to listed companies is involved, calculation may be based on the audited net asset value of the listed company on the record date of assessment;
(4) If, during the assets examination and verification, the assessment institution identifies any expenses for amortization which is not amortized, deferred assets and other potential losses or accounting errors, the enterprise shall be required to make adjustment thereto. If the enterprise has engaged an auditing institution to audit the accounting statement on the record date of assessment, the assessment institution shall pay sufficient attention to the audit report and the accounting report and note thereto where opinion is given, and keep the audit report as the reference document of the assessment report;
(5) Enterprises which haven't handled the housing certificate due to historical reasons shall handle the housing certificate to specify attribution of property rights; any enterprise failing to handle the same in a timely manner shall specify the reason thereof with valid supporting documents issued by relevant entities;
(6) The balance of the revolving funds for sold housing may be treated in accordance with the Notice on the Financial Treatment Issues Concerning the Housing System Reform in Enterprises (Cai Qi [2002] No. 295); and
(7) The assessment institution shall disclose the assessment and treatment of the abovementioned matters sufficiently in the item of special matters of the assessment report.
三、债转股评估项目部分资产的评估原则
在债转股评估中,涉及股权回购、股权变动事项资产评估机构对部分资产科目可按下列原则处理:
1.关于企业债权类资产的评估。企业与资产评估机构须对企业的应收账款、其他应收款等债权类资产进行认真的清查核实,在此基础上,评估机构可根据其账龄、性质、债务人状况等综合分析判断回收的可能性,相应确定评估值。企业在进行财务处理时应按现行财务制度执行。
2.企业和评估机构须对实物资产(包括存货)进行认真的盘查核对,对于盘亏盘盈和损失报废资产,企业要对具体原因、数量和价值作出专项说明并出具有效文件,评估机构对其真实性和可靠性作出判断后,确定评估值。
3.对于长期投资应逐项进行评估。评估确有难度的,应在评估前由企业征得资产管理公司同意后,由评估机构按账面值列示。涉及对上市公司的长期投资,可按评估基准日经审计的上市公司净资产值为基础计算。
4.评估机构在资产清查核实中发现的应摊未摊的待摊费用、递延资产及其它潜亏挂账或核算错误,应提请企业进行调整。对于企业已聘请审计机构对评估基准日会计报表进行审计的,评估机构应充分关注审计报告及其所发表意见的会计报表和附注的内容,并将审计报告作为评估报告的备查文件。
5.企业由于历史原因未办理房产证明的,应办理房产证,明确产权归属;不能及时办理的,应说明原因并由有关单位出具有效的证明文件。
6.对已出售住房周转金余额,可依据《关于企业住房制度改革有关财务处理问题的通知》（财企[2002]295号）处理。
7.对上述事项的评估处理情况，评估机构应在评估报告特别事项中予以充分披露。
The assessment of debt-for-equity swap in enterprises is highly dependent on policy; as a result, all financial departments, enterprises and assessment institutions at provincial level shall attach sufficient importance thereto, and complete the debt-for-equity swap actively and properly for quality and efficient results.
企业债转股评估是一项政策性很强的工作，各省级财政部门、企业和评估机构必须予以充分的重视，积极稳妥、优质高效地做好债转股评估工作。
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