摘要 文化传媒企业具有生产要素投入构成中实物资产投入占比偏低，投资规模金 额巨大、智力成果附加产出终端实现增值收益的行业特点，隶属于高投资、高风 险行业。受益于产业政策扶持、资源要素投入增加及新兴传媒方式下受众群体增 长三要素驱动，文化传媒行业产业规模近年得以快速发展，在对应于支撑生产运 营的资源要素投入方面，单一来源债务融资及定向权益融资已不足以满足公司未 来发展的运营资金需求，进而公司通过多元化融资模式获取相应资金投入正成为 公司有序健康发展的一项重要战略规划。 多层次资本市场体系中新三板市场服务对象定位于创新型、创业型及成长型 中小微企业，受限于公司自身客观实际，当前拟申报挂牌企业普遍存在着财务规 范性方面瑕疵，这一方面对挂牌申报工作的有序推进造成障碍，另一方面也潜在 增大了公司运营过程中财务、法务与运营风险的发生。财务规范性作为企业治理 体系与管理过程的有机结合产物，受企业文化与制度及业务安排的共同影响，为 有效应对相关风险，以财务计列规范性及风险防控为视角，从内部控制层面出发 进行系统整理分析，提出建立与完善公司风险防控的相关举措，据以推进生产运 营的有序规范开展，在理论与实务层面上具有着十分重要意义。 本文以新三板市场及文化传媒行业发展现状为研究背景，以实际经办某挂牌 公司为研究对象，借助会计与审计等相关学科理论知识及行业实践经验，对实务 中因制度支撑欠缺、会计核算基础薄弱，内部控制不完善等相关影响下的常见财 务规范性问题进行列举描述，分析过程引入企业风险管理框架理念，从治理与文 化、战略与目标设定、绩效、检查与修正、信息沟通与报告五个维度，将案例公 司财务规范性问题聚焦于会计政策偏离、新兴业务下的职业判断、关联交易与信 息整合缺失四个方面，提出财务规范性的建立与完善，应包括但不限于企业战略 目标、企业价值观与风险管理的相互统一、内外部控制监督、业财融合模式下的 信息传递与沟通的无缝对接、良好专业技能下的财务信息确认计量与批露等多个 方面，其核心实质应为企业风险管理目标设定与后续实施的有效全生命周期把控。 关 键 词：财务规范化；新三板；文化传媒企业 Abstract Abstract Characterized by low proportion of the input of real assets and large investment, culture and media enterprises belong to the high-investment and high-risk industry, and promoted by the support of industrial policies, increased investment of resource factors and growth of emerging media audience, the industrial scale has developed rapidly in recent years, but in terms of support of resource factor investment for production and operation, single-source debt financing or targeted equity financing under the existing equity structure has been no longer sufficient to meet the needs of operating capital for future development, so the capital investment support under diversified financing modes has become an important strategic plan for the sound development of enterprises. In the multi-level capital market system, the service targets of the New OTC Market are innovative, entrepreneurial and growing UMKM. They generally have defects in financial standardization, which on the one hand hinders the orderly progress of listing application and on the other hand potentially increases the occurrence of related risks in the operating process. Corresponding to the internal control of risk prevention, financial standardization is a system and business arrangement, so its systematic organization and analysis is of great significance at theoretical and practical levels for strengthening risk prevention and control to promote orderly production and operation. This article took a listed company as the research object, used theoretical knowledge of accounting and auditing to comprehensively and thoroughly analyze the status quo and problems of financial standardization of the company, and combined with the framework and idea of risk management to propose the solution to related issues. First, it took the development status of the culture and media industry in the New OTC Market as the research background to review the essence of Chinese and foreign theories and literature and describe the market problems and strategies under the Abstract development status of the New OTC Market. It elaborated the problems of financial standardization in the case such as lack of institutional support, weak accounting foundation and incomplete internal control and introduced the research contents and methods. Second, it introduced the multi-level capital market systems in China and foreign countries and the listing conditions of the New OTC Market, listed and analyzed common problems in financial standardization. It then introduced the framework and idea of enterprise risk management to provide a basis for the description and follow-up analysis of problems in financial standardization from the five perspectives of governance and culture, strategy and objective, performance, inspection and correction, information communication and reporting and focused the problems on accounting policy deviation, professional judgment under emerging business, related transactions and lack of information integration. Finally, it proposed measures to improve the operating process of financial standardization, that is, financial standardization should be taken as a system and business arrangement to achieve the strategy and business objectives, which should be reflected in the organic integration of governance system and management process, including but not limited to the unity of strategic objectives, values and risk management, internal and external control and supervision, seamless connection of information transfer and communication under the mode of business and finance integration as well as confirmation, measurement and disclosure of financial information under good professional skills. Therefore, its core essence is to set the risk management objective and control the subsequent implementation of effective life cycle of enterprises. Keywords NEEQ; Financial regulation; Cultural media enterprises 目录 目录 第一章 绪论 ..................................................... 1 第一节 研究背景及意义 ........................................... 1 一、 研究背景 ......................................................... 1 二、 研究意义 ......................................................... 3 第二节 国内外研究综述 ........................................... 3 一、 国外相关研究动态 ................................................. 3 二、 国内文献综述 ..................................................... 4 三、 文献评价 ......................................................... 5 第三节 研究方法与研究框架 ....................................... 6 一、 研究方法 ......................................................... 6 二、 研究框架 ......................................................... 6 第二章 文化传媒业新三板市场财务规范性概述 ....................... 8 第一节 文化传媒业新三板市场财务规范性基本概念 ................... 8 一、 新三板概念 ....................................................... 8 二、 文化传媒业概念 ................................................... 8 三、 财务规范概念与内涵 ............................................... 9 第二节 财务规范性相关理论 ....................................... 9 一、 委托代理理论 ..................................................... 9 二、 信号传递理论 .................................................... 10 三、 利益相关者理论 .................................................. 10 第三章 新三板发展历程与挂牌要求 ................................ 11 第一节 我国新三板市场发展进程 .................................. 11 一、 我国场外交易市场的形成 .......................................... 11 二、 我国老三板市场的设立与发展 ...................................... 11 三、 我国新三板市场的设立与发展 ...................................... 12 第二节 国际多层次资本市场体系情况 .............................. 13 一、 美国多层次资本市场体系 .......................................... 13 目录 二、 英国多层次资本市场体系 .......................................... 15 三、 韩国多层次资本市场体系 .......................................... 15 四、 日本多层次资本市场体系 .......................................... 16 第三节 新三板挂牌条件与挂牌流程 ................................ 16 一、 新三板挂牌条件 .....................................