股市期權(quán)計(jì)劃管帳處理，濟(jì)南代理記賬公司有關(guān)常識(shí)?

　　Stock option plan tube account processing, bookkeeping agency company jinan common sense?

　　股市期權(quán)(亦稱認(rèn)股權(quán))，是由公司一切者向運(yùn)營(yíng)者供應(yīng)鼓舞的一種酬勞原則。一般做法是公司根據(jù)股市期權(quán)計(jì)劃的規(guī)矩，給予高檔管理人員在某一規(guī)矩的期限內(nèi)(一般為5～10年)，按約好的報(bào)價(jià)(一般是該權(quán)利被頒布時(shí)的報(bào)價(jià))收購(gòu)本公司一定數(shù)量股市的權(quán)利(一般在10萬(wàn)元以上)。這種權(quán)利不能轉(zhuǎn)讓，但所購(gòu)股市能夠在商場(chǎng)上出售。濟(jì)南代理記賬公司

　　Stock options (also known as stock options), are all by the company to supply operators inspiring principles of a kind of reward. General practice is according to the rules of the stock option plan, to high-grade management personnel within the time limit in a certain rules (generally for 5 ~ 10 years), arranged quotation (usually the rights are issued at the time of the offer) acquisition of the company a certain number of rights of the stock market is in commonly 100000 yuan of above. This power cannot be transferred, but could buy stocks in the market for sale. Jinan bookkeeping agency company

　　現(xiàn)在，股市期權(quán)的實(shí)施已成為中國(guó)國(guó)有企業(yè)改制中的熱點(diǎn)問(wèn)題，中國(guó)上市公司實(shí)施股市期權(quán)計(jì)劃也面臨著怎樣必定股市期權(quán)管帳規(guī)范這一難題。獨(dú)創(chuàng)興隆國(guó)度的閱歷，擬定合理的股市期權(quán)管帳規(guī)范。

　　Now, the implementation of the stock option has become a hot issue in China's state-owned enterprise restructuring, China's listed companies implementing the stock option plan is faced with how to tube stock option accounting standard must be this difficult problem. Original creation is thriving country experience, to formulate the reasonable stock options account pipe specification.

　　是中國(guó)實(shí)施股市期權(quán)鼓舞制度的主要過(guò)程。當(dāng)今世界各國(guó)中，美國(guó)的股市期權(quán)管帳制度最為完善。美國(guó)股市期權(quán)的管帳原則包含美國(guó)管帳繩尺委員會(huì)(APB)第25號(hào)定見(jiàn)書和FASB第123號(hào)公告以及2000年3月31日美國(guó)管帳原則委員會(huì)發(fā)布的第44號(hào)解說(shuō)定見(jiàn)。筆者企圖在充分獨(dú)創(chuàng)美國(guó)這三個(gè)管帳原則的主要內(nèi)容和具體實(shí)施方法的基礎(chǔ)上。評(píng)論中國(guó)股市期權(quán)的管帳處置的關(guān)鍵，以供上市公司參閱和獨(dú)創(chuàng)。

　　Is the main process of China's implementation of stock option inspiration system. In the modern world, the United States of stock option accounting system is the most perfect. U.S. stock options of tube accounting principles include the tube tent rope foot board (APB) and FASB announcement no. 123 and no. 25 mindset book on March 31, 2000 of the United States tube accounting principles # 44 mindset. The author attempts to in full original American these three tube of the main content of the accounting principles and concrete implementation method on the basis of. Comment on China's stock market is the option of key account disposal of for listed companies refer to and original.

　　一、股市期權(quán)應(yīng)予以費(fèi)用化

　　A, stock option should be expensed

　　對(duì)于股市期權(quán)的管帳處理。有兩個(gè)疑問(wèn)最為關(guān)鍵：一是期權(quán)費(fèi)用能否計(jì)入本錢從公司獲利中獲取：二是期權(quán)費(fèi)用假設(shè)作為本錢應(yīng)何時(shí)入賬以及怎樣入賬。安靖工作從前，美國(guó)的管帳原則，能夠?qū)⒐墒衅跈?quán)費(fèi)作為薪酬費(fèi)用列為運(yùn)營(yíng)本錢。也能夠不將其列為運(yùn)營(yíng)本錢，公司有權(quán)自立抉擇。為添加獲利。長(zhǎng)期以來(lái)大大都公司一般都不將股市期權(quán)費(fèi)計(jì)入運(yùn)營(yíng)本錢。安靖工作后，管理機(jī)構(gòu)和出資者越來(lái)越強(qiáng)烈要求公司將股市期權(quán)費(fèi)計(jì)入本錢。由于根據(jù)美聯(lián)儲(chǔ)官員的調(diào)查，1995—2000年規(guī)范普爾500家公司收益的年增長(zhǎng)率中有2.5%是由于未將股市期權(quán)費(fèi)用化而虛增的，美聯(lián)儲(chǔ)主席Greenspan聲稱附和將期權(quán)費(fèi)用化。假設(shè)不將期權(quán)費(fèi)用化，會(huì)虛增獲利。導(dǎo)致股價(jià)上漲，使得出資人為收購(gòu)股市有必要付更多的錢。也因此而曲解了在揭穿商場(chǎng)上的本錢配備的功率。APB第25號(hào)定見(jiàn)書和FASB第123號(hào)公告都主張股市期權(quán)應(yīng)按一定的期權(quán)定價(jià)方法計(jì)入費(fèi)用。

　　For stock options of tube processing. There are two questions: the most critical one is included in the capital from the earnings of the option premium access: the second is the premium hypothesis as capital should be booked when and how to enter an item in an account. Came to work in the past, the U.S. accounting principles, to be able to stock option as compensation fee as operating capital. Also can not be classified as operating capital, the company shall have the right to stand on its own choices. To add a profit. For a long time are greatly company generally will not stock option plan into operation. Came to work, management agencies and stakeholders in growing requiring companies to stock option fee included in the capital. Because according to a study of fed officials, 1995-2000 standard & poor's 500 companies earnings of 2.5% of annual growth rate is due to not expensing stock options and inflated, federal reserve chairman Greenspan claimed that echoed the option premium. Assumption is not the option premium, inflated profits. Lead to share price rise, make the investment to buy the stock market is necessary to pay more money. Thus distorted in debunking capital equipped with power in the market place. APB no.25 mindset books and FASB announcement no. 123 have stock options should be according to certain option pricing method is included in the cost.

　　二、股市期權(quán)費(fèi)用確實(shí)認(rèn)和計(jì)量

　　Second, the stock market premium really recognition and measurement

　　(一)計(jì)量時(shí)點(diǎn)

　　(a) point of measurement

　　一個(gè)股市期權(quán)需供認(rèn)的費(fèi)用是根據(jù)下述兩個(gè)要素都必定的第一個(gè)日期(計(jì)量日)測(cè)定的：(1)職工有權(quán)獲得的股份數(shù);(2)為獲得股份須付出的對(duì)價(jià)(行權(quán)價(jià))。根據(jù)計(jì)量日的不一樣，股市期權(quán)計(jì)劃能夠分為必定的股市期權(quán)計(jì)劃和不必定的股市期權(quán)計(jì)劃。必定的股市期權(quán)計(jì)劃的行權(quán)價(jià)和職工有權(quán)獲得的股份數(shù)在期權(quán)頒布日即是必定的，計(jì)量日即是頒布日。不必定的股市期權(quán)計(jì)劃又稱為以業(yè)績(jī)?yōu)榛A(chǔ)的股市期權(quán)計(jì)劃，此類計(jì)劃的股份數(shù)或者行權(quán)價(jià)在期權(quán)頒布日是不必定的。計(jì)量日并不等于頒布日，而是職工有權(quán)獲得的股份數(shù)和行權(quán)價(jià)都必定的日期。濟(jì)南代理記賬公司

　　A stock option must admission fee is according to the following two elements must be the first date (measurement) : (1) the worker shall be entitled to the number of shares; (2) for shares shall pay the price (price). According to the different measurement day, the stock option plan can be divided into bound to the stock option plan and is not bound to the stock option plan. Must have the price of stock option plan and worker shall be entitled to the number of shares issued is must, in the options measurement day is issued. Not bound to the stock option plan is also known as based on the performance of the stock option plan, such a plan the number of shares or the price in the options promulgation date is not must. Measurement, not equal to date, but the worker shall be entitled to the number of shares and the date of the price are sure. Jinan bookkeeping agency company

　　(二)股市期權(quán)費(fèi)用的計(jì)量

　　(2) measuring the cost of stock options

　　APB第25號(hào)定見(jiàn)書《向職工發(fā)放股市的管帳處理》規(guī)矩，與股市期權(quán)有關(guān)的賠償費(fèi)用可選用內(nèi)在價(jià)值法計(jì)算，即在計(jì)量日，只有當(dāng)股市市價(jià)逾越行權(quán)報(bào)價(jià)時(shí)，才供認(rèn)并計(jì)量賠償費(fèi)用。但假設(shè)在計(jì)量日行權(quán)報(bào)價(jià)等于或高于股市市價(jià)，則不供認(rèn)賠償費(fèi)用。所以內(nèi)在價(jià)值法下大都固定型股市期權(quán)在授權(quán)日的內(nèi)在價(jià)值為零，即股市市價(jià)和行權(quán)報(bào)價(jià)的差額為零。一同，應(yīng)用內(nèi)在價(jià)值法計(jì)量賠償費(fèi)用時(shí)。當(dāng)股市市價(jià)發(fā)作改動(dòng)時(shí)。內(nèi)在價(jià)值也跟著改動(dòng)，所以在每一個(gè)管帳期末都需要對(duì)期權(quán)賠償費(fèi)用進(jìn)行調(diào)整。1995年，美國(guó)管帳原則委員會(huì)發(fā)布了第123號(hào)公告，“以股權(quán)為基礎(chǔ)薪酬管帳”，推出了一套“以公允價(jià)值為基礎(chǔ)的”股市期權(quán)管帳處理方法，公允價(jià)值法是在期權(quán)的頒布日，以股市期權(quán)的公允價(jià)值供認(rèn)公司的遞延酬勞本錢，并將遞延酬勞本錢在效力期內(nèi)進(jìn)行攤銷。該法的關(guān)鍵是公允價(jià)值的供認(rèn)，世界管帳原則委員會(huì)認(rèn)為：“公允價(jià)值”是指了解情況并自愿的兩頭，在公平生意基礎(chǔ)上進(jìn)行財(cái)物交流或債款結(jié)算的金額。由于公允價(jià)值一經(jīng)斷定就不再改動(dòng)，所以在公允價(jià)值法下不存在期末調(diào)整疑問(wèn)。FASB123號(hào)公告仍然容許繼續(xù)選用APB25，僅僅規(guī)矩應(yīng)當(dāng)在財(cái)務(wù)報(bào)表的腳注中宣布，假設(shè)選用FASB123號(hào)公告。公司的凈收益和每股盈余將會(huì)遭到何種影響。

　　APB no.25 mindset book "issued to the worker's tube account processing rules, related to stock options can choose the intrinsic value method to calculate the damages, namely in the measurement, only when the stock market price is beyond the exercise price, just broke down and measurement of the damages. But suppose the measurement on exercise price equal to or higher than the market price, do not confess the damages. So under the intrinsic value method mostly fixed type stock option on the authorization day's intrinsic value is zero, namely the difference between the stock market and the exercise price is zero. Together, the application compensation when their intrinsic value method. When the stock market attack changes. Intrinsic value also follow changes, so in each tube account at the end of all need to adjust options of the damages. In 1995, the principle of tube account commission issued announcement no. 123, "on the basis of equity compensation tube account", launched a "on the basis of the fair value of the" tube stock option accounting treatment method, the promulgation of the fair value method is in the options, with the fair value of the stock option confessed company deferred payments of the capital, and capital to deferred compensation in the validity period of amortization. The law is the key to the fair value of the confession, the tube accounting principles board says: "fair value" refers to the situation and the two ends of the voluntary, on the basis of fair business communicate property or the amount of debt settlement. Because of the fair value is concluded that it is no longer changes, so under the fair value method does not exist the final adjustment. FASB123 bulletin choose APB25 allowed to continue, only the rules shall be announced in a footnote in the financial statements, hypothesis with FASB123 announcement. The company's net income and eps will have been.

　　筆者認(rèn)為。在如今條件下。中國(guó)股市期權(quán)管帳不宜選用公平價(jià)值管帳。中國(guó)如今的證券商場(chǎng)正處在從無(wú)功率向弱型功率過(guò)渡的期間，開(kāi)端達(dá)到了弱型功率。在這個(gè)商場(chǎng)中，股市的現(xiàn)行報(bào)價(jià)僅僅反映了一切前史的記載，底細(xì)生意和投機(jī)做法盛行。股價(jià)與公司凈收益違背較為嚴(yán)重，股市期權(quán)原則賴以存在的商場(chǎng)環(huán)境并不存在。因此，中國(guó)現(xiàn)期間不具有普遍推行股市期權(quán)原則的條件，對(duì)股市期權(quán)原則的管帳處理宜側(cè)重可靠性，統(tǒng)籌有關(guān)性。上市公司股市期權(quán)管帳處理，能夠?qū)W習(xí)APB25號(hào)定見(jiàn)書的做法，將頒布日的市價(jià)與行權(quán)價(jià)的差額承認(rèn)為費(fèi)用。管帳上一邊按照內(nèi)在價(jià)值供認(rèn)預(yù)提費(fèi)用，一邊記載股市期權(quán)，并在期權(quán)計(jì)劃中規(guī)矩的效力期間內(nèi)平均攤銷，分期轉(zhuǎn)為費(fèi)用，行權(quán)后，股市期權(quán)轉(zhuǎn)為股本。FASB123號(hào)公告所推重的公平價(jià)值管帳處理方法。雖然從有關(guān)性視點(diǎn)來(lái)看是極好的，契合管帳理論的開(kāi)展潮流，可是即便在本錢商場(chǎng)非常興隆的美國(guó)也遇到了健壯的阻力。中國(guó)如今還不具有選用公平價(jià)值法的條件。以公平價(jià)值法中最常用的Black-Scholes模型為例，該模型假定，股市報(bào)價(jià)恪守對(duì)數(shù)正態(tài)分布，股市出資酬謝的波動(dòng)性在期權(quán)有用期中是固定不變的;在期權(quán)有用期內(nèi)，股市無(wú)盈余，或許有已知的盈余;存在著一個(gè)固定的無(wú)風(fēng)險(xiǎn)利率，出資者能夠按照無(wú)風(fēng)險(xiǎn)利率恣意地借入或貸出。此類假定在中國(guó)無(wú)一能夠滿足。也缺少相應(yīng)的商場(chǎng)參照。可是，我們能夠加強(qiáng)這方面的理論研究，以便為將來(lái)向公平價(jià)值管帳過(guò)渡做好準(zhǔn)備。

　　The author thinks that. Under the condition of today. China's stock market options pipe account unfavorable choose fair value accounting. China's securities market today is in the transition from no power to the weak power of period, beginning to weak power. In this store, the stock market's current offer only reflects the history of all the former record, number of business and speculation is rife. Shares with the company's net income, against more severe, on which the equity options principle store environment does not exist. As a result, China is now during the do not have the conditions of the universal principles to implement stock option, the principle of stock options account of tube processing should be focused on reliability, as a whole about sex. Tube stock option accounting treatment of listed companies, to learn APB25 mindset book number, will be issued, the difference between the market price and price of admitted as expenses. Tube account according to the intrinsic value had accrued expenses, recorded in the equity options, and in the option plan during the period of validity of the rules of the average amortization, installment to charge, after exercise, stock option into equity. Sages FASB123, announced by the fair value of tube processing method. Though from the sexual perspective is extremely good, fit pipe account theory development trend, but even in the capital market is very prosperous America also met with strong resistance. China now still do not have choose fair value method. In a fair value method is the most commonly used Black - Scholes model as an example, the model assumes that the stock market quotation by lognormal distribution, the stock market volatility of the investment reward is fixed in the options useful midterm; In the options useful period, the stock market without surplus, may have a surplus of known; There is a risk-free interest rate fixed, stakeholders can according to the risk-free rate willfully to borrow or lend. This assumes that none can meet in China. The store also lack of corresponding reference. However, we can strengthen the theoretical research in this field, in order to prepare for the future to make the transition to fair value tube account.

　　為了規(guī)范上市公司股市期權(quán)的授權(quán)和行權(quán)做法。

　　In order to standardize the authorization of the listed company stock options and exercise.

　　中國(guó)證監(jiān)會(huì)擬定了《上市公司認(rèn)股權(quán)試點(diǎn)管理方法》(試行稿)(以下簡(jiǎn)稱《管理方法》)，對(duì)于上市公司股市期權(quán)管帳處置的一些規(guī)矩隱含在這個(gè)文件中。《管理方法》第19條規(guī)矩，“認(rèn)股權(quán)行使價(jià)值確實(shí)定以公司股市的二級(jí)商場(chǎng)價(jià)格為準(zhǔn)。不得損害別的股東的利益”，這闡明為了不稀釋別的股東的利益，中國(guó)公司固定性股市期權(quán)計(jì)劃的行權(quán)價(jià)不該低于期權(quán)發(fā)放日(授權(quán)日)的市價(jià)。《管理方法》第13條規(guī)矩，對(duì)于不必定的股市期權(quán)計(jì)劃，在期權(quán)發(fā)放日行權(quán)價(jià)格不明白，可是其必定的方法是已知的，此刻，發(fā)放日不是計(jì)量日，計(jì)量日是頒布的股數(shù)和行權(quán)價(jià)格都能夠必定的第一個(gè)日期。由此可見(jiàn)，在中國(guó)現(xiàn)在的情況下，對(duì)于股市期權(quán)的計(jì)量只能選用APB25的內(nèi)在價(jià)值法。內(nèi)行權(quán)前，酬勞本錢要預(yù)估供認(rèn)并分配調(diào)整攤銷轉(zhuǎn)入費(fèi)用;內(nèi)行權(quán)以后，股市期權(quán)轉(zhuǎn)入股本。

　　The China securities regulatory commission drew up "the pilot listed company stock options management approach" (trial draft) (hereinafter referred to as "management methods"), for the listed company tube stock option accounting treatment of some of the rules implied in this file. "Management approach" article 19 rules, "option exercise really value will be subject to secondary market price of the stock market company. Shall not harm the interests of other shareholders", it expounds in order not to dilute the interests of other shareholders, the company fixity of the stock option plan issued price should not be lower than option (authorized) market. "Management approach" article 13 rules, for the stock option plan, must be issued in the options strike prices don't understand, but the way of the must is known, and at the moment, the day is not a measurement, measurement is the number of shares and the exercise price can surely the first date. Thus, in China's current situation, for the measurement of stock options can only choose APB25 the intrinsic value method. To vest, paid capital to forecast confessed and amortization allocation adjustment into cost; To vest, stock option into equity.

　　濟(jì)南代理記賬公司:http://www.chnew.cn/