Securities code: Yangtze Optical Fibre And Cable Joint Stock Limited Company(601869) securities abbreviation: Changfei optical fiber Announcement No.: lin2022014 bond Code: 175070 bond abbreviation: 20 Changfei 01
Yangtze Optical Fibre And Cable Joint Stock Limited Company(601869)
Announcement on changes in accounting policies
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 bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents. Important content note: this accounting policy change is Yangtze Optical Fibre And Cable Joint Stock Limited Company(601869) (hereinafter referred to as “the company” and “the company”) based on the question and answer on the implementation of accounting standards for business enterprises issued by the accounting department of the Ministry of finance of the people’s Republic of China (hereinafter referred to as “the Ministry of finance”) on November 1, 2021 Appropriate changes and adjustments shall be made to the accounting and presentation of relevant accounting subjects. The change of accounting policies has no significant impact on the company’s financial status, operating results and cash flow
1、 Overview of changes in accounting policies
1. Date of accounting policy change
The company prepares the financial statements for the year 2021 and subsequent periods in accordance with the requirements of the question and answer on the implementation of accounting standards for business enterprises issued by the accounting department of the Ministry of Finance on November 1, 2021.
2. Reasons for changes in accounting policies
On November 1, 2021, the accounting department of the Ministry of Finance issued a question and answer on the implementation of the accounting standards for Business Enterprises No. 14 – revenue, point out “Under normal circumstances, the transportation activities before the control of the enterprise’s goods or services is transferred to the customer and in order to perform the customer’s contract do not constitute a single performance obligation. The relevant transportation costs shall be regarded as the contract performance costs, amortized on the same basis as the recognition of the revenue of goods or services, and included in the current profits and losses. The contract performance costs shall be carried forward and included in the ‘main business costs’ or’ other costs’ when the revenue of goods or services is recognized “Business cost” and listed in the “operating cost” item of the income statement.
According to the questions and answers on the implementation of the above relevant standards, the company prepares the financial statements of 2021 and subsequent periods.
This accounting policy change does not need to be submitted to the board of directors and the general meeting of shareholders for deliberation.
3. Accounting policies adopted by the company before change
Before the change of accounting policy, the company implemented the accounting standards for business enterprises – basic standards, various specific accounting standards, application guide of accounting standards for business enterprises, interpretation of accounting standards for business enterprises and other relevant provisions issued by the Ministry of finance.
4. Accounting policies adopted by the company after change
After this accounting policy change, the company will implement the Q & A on the implementation of accounting standards for business enterprises issued by the accounting department of the Ministry of Finance on November 1, 2021. In addition to the above changes in accounting policies, the remaining unchanged parts are still in accordance with the accounting standards for business enterprises – basic standards, various specific accounting standards, application guidelines of accounting standards for business enterprises, interpretation of accounting standards for business enterprises and other relevant provisions issued by the Ministry of finance.
2、 Main contents of this accounting policy change and its impact on the company
According to the question and answer on the implementation of accounting standards for business enterprises issued by the accounting department of the Ministry of Finance on November 1, 2021, the company adjusts and accounts the relevant accounting subjects, and adjusts the data of comparable periods according to the same caliber. The affected items and amounts are listed as follows:
Unit: yuan currency: RMB
Affected amount (negative number indicates decrease)
Statement items affected by changes in accounting policies
Project name 2020
Consolidated income statement parent company income statement
For the operating costs incurred in the transfer of commodity control to customers 139618562102029175
The group and the company will deduct the transportation costs incurred for the performance of the sales contract from the sales expenses
Total sales expenses are reclassified to operating costs – 139618562 – 102029175
The implementation of the above questions and answers on the implementation of accounting standards for business enterprises issued by the accounting department of the Ministry of Finance on November 1, 2021 has no significant impact on the company’s financial status, operating results and cash flow, and there is no situation that damages the interests of the company and all shareholders, especially the majority of minority shareholders.
It is hereby announced.
Yangtze Optical Fibre And Cable Joint Stock Limited Company(601869) board of directors March 25, 2002
