论文总字数：20216字

摘 要

近年来，并购成为很多上市公司进行业务转型、提升股价、保持业绩高速增长的主要手段。很多企业都纷纷在这场并购潮里跟风跨界并购，但结果却不尽如人意，很多企业都在并购后因巨额商誉减值而陷入困境，这也给广大投资者带来了经济损失。本文聚焦商誉减值，通过对并购业务和商誉进行理论分析以及结合具体案例来探索商誉减值的原因和其会带来的经济后果，又进一步通过比较分析摊销法和减值法的优缺点来提出商誉后续计量方法的建议。

本文立足于我国的现实情况和既有的研究成果，采用文献研究法、案例分析法、比较分析法和归纳法等研究方法来进行研究。通过分析商誉的本质及其确认与计量的方式得出结论：巨额商誉减值的根源是企业的高溢价并购。所以文章结合康尼机电高溢价跨界并购龙昕科技这个具体案例，进一步分析了高溢价并购会带来的风险和危害，并且从多角度对企业应如何正确处理并购业务提出建议，以期减少劣质并购，从而可以从根源上降低巨额商誉减值的风险。又从商誉后续计量方式的角度，通过对比分析摊销法和减值法在实务运用中各自的优缺点，总结出商誉后续计量方法的建议，即摊销法与减值法并行，摊销法在企业正常平稳经营时使用；减值法在企业商誉出现明显减值迹象时使用，并及时计提减值准备。首先，这样可以在更易于实务操作的情况下，降低因商誉减值测试带来的减值压力，也缩小了企业管理层可以进行盈余管理的空间；其次，企业在并购前会考虑到摊销额与利润的关系，从而会审慎并购，降低巨额商誉减值发生的可能性；最后，该建议允许企业可以根据其所处行业的具体情况，在一定条件内可以自主选择合适的摊销方法和摊销年限，从而也优化了摊销法程序固定单一不能灵活运用于实务的缺点。

关键词：企业并购；商誉减值；商誉后续计量；摊销法；减值法

Confirmation and Measurement of Goodwill in Mergers and Acquisitions

—Take Kang Ni"s Acquisition of Longxin Technology as An Example

Abstract

In recent years, mergers and acquisitions have become the main means for many listed companies to carry out business transformation, increase stock prices, and maintain rapid growth in performance. Many companies have followed the trend of cross-border mergers and acquisitions in this Mamp;A wave, but the results are not satisfactory. Many companies have fallen into trouble due to the huge impairment of goodwill after the merger, which has also brought economic losses to the majority of investors. This article focuses on impairment of goodwill, through theoretical analysis of mergers and acquisitions and goodwill, and combining specific cases to explore the reasons for impairment of goodwill and its economic consequences, and further through comparative analysis of amortization and impairment methods. The pros and cons of the company will make recommendations for the follow-up measurement of goodwill.

This article is based on our country’s actual situation and existing research results, using literature research method, case analysis method, comparative analysis method and induction method to conduct research. By analyzing the nature of goodwill and the way it is recognized and measured, it is concluded that the source of the huge impairment of goodwill is the high-premium mergers and acquisitions of enterprises. Therefore, this article combines the specific case of Kang Ni’s high-premium cross-border merger and acquisition of Longxin Technology, further analyzes the risks and harms of high-premium mergers and acquisitions, and provides suggestions on how companies should correctly handle mergers and acquisitions from multiple angles in order to reduce poor quality Mergers and acquisitions can reduce the risk of huge goodwill impairment from the root cause. From the perspective of the follow-up measurement method of goodwill, through comparative analysis of the advantages and disadvantages of the amortization method and the impairment method in practical application, the recommendations of the follow-up measurement method of goodwill are summarized, that is, amortization method and impairment method are parallel. The sales method is used when the enterprise is operating normally and steadily; the impairment method is used when the enterprise’s goodwill has obvious signs of impairment, and the impairment provision is made timely. First of all, this can reduce the pressure of impairment caused by the goodwill impairment test and reduce the space for the company’s management to carry out earnings management. Second, the company will consider the apportionment before mergers and acquisitions. The relationship between sales and profits will be prudent in mergers and acquisitions to reduce the possibility of huge impairment of goodwill; finally, the proposal allows companies to choose the appropriate amortization according to the specific conditions of their industry and within certain conditions. The method and the amortization period, thereby also optimizing the shortcomings of a fixed amortization method that cannot be applied flexibly in practice.

Keywords: Corporate mergers and acquisitions; Impairment of goodwill; Follow-up measurement of goodwill; Amortization method; Impairment method

目 录

摘 要

Abstract

第一章 绪 论

1.1 研究背景

1.2 研究目的及意义

1.3 研究内容及方法

1.4 论文框架

第二章 并购业务商誉的确认与计量的文献综述

2.1 国外相关文献研究

2.2 国内相关文献研究

2.3 总结

第三章 并购业务和商誉的理论分析

3.1 并购业务的概念及优缺点

3.2 合并商誉的理论分析

3.3 上市公司巨额商誉减值的原因分析

3.3.1 高溢价并购造成的商誉虚高是商誉减值的根本原因

3.3.2 管理层盈余管理致使企业计提巨额商誉减值

3.3.3 宏观环境的低迷会导致巨额商誉减值

第四章 康尼机电并购龙昕科技的案例分析

4.1 并购双方简介

4.2 康尼机电并购龙昕科技案例的具体分析

4.2.1 康尼机电的并购动因

4.2.2 康尼机电的并购历程

4.2.3 康尼机电因此次并购大额亏损的原因

4.3 康尼机电并购龙昕科技的案例启示

4.3.1 并购业务带来收益具有不确定性

4.3.2 企业应建立完善的内控机制

4.3.3 社会评估机构和监管部门方面

4.3.4 并购业务完成后企业应合理安排好各方的管理和生产经营活动

4.3.5 外部投资者方面

第五章 商誉后续计量方法的建议

5.1 商誉后续计量方法的介绍

5.1.1 摊销法的优缺点

5.1.2 减值法的优缺点

5.2 商誉后续计量方法的选择

5.3 商誉后续计量方法应用中的注意点

结束语

致 谢

剩余内容已隐藏，请支付后下载全文，论文总字数：20216字