【摘要】：在我國(guó),企業(yè)投資并購(gòu)活動(dòng)在資本市場(chǎng)中已經(jīng)日益普遍,并購(gòu)成為企業(yè)實(shí)現(xiàn)產(chǎn)業(yè)延伸和規(guī)模擴(kuò)張的主要途徑。近年來(lái),隨著大健康產(chǎn)業(yè)的迅速發(fā)展,社會(huì)資本對(duì)醫(yī)院的并購(gòu)活動(dòng)也正在如火如荼地進(jìn)行,包括復(fù)星醫(yī)藥、聯(lián)想控股和北大醫(yī)療在內(nèi)的各領(lǐng)域企業(yè)對(duì)醫(yī)院行業(yè)的投資活動(dòng)正在高速增長(zhǎng),但是由于醫(yī)院的經(jīng)營(yíng)運(yùn)作和財(cái)務(wù)處理不同于一般企業(yè),加大了并購(gòu)雙方之間的信息不對(duì)稱(chēng),注冊(cè)會(huì)計(jì)師財(cái)務(wù)盡職調(diào)查作為減少信息不對(duì)稱(chēng)的專(zhuān)業(yè)手段在并購(gòu)醫(yī)院項(xiàng)目中的作用也愈加凸顯,成為不可或缺的一環(huán)。注冊(cè)會(huì)計(jì)師開(kāi)展的財(cái)務(wù)盡職調(diào)查業(yè)務(wù)本身就是一項(xiàng)具有很強(qiáng)實(shí)踐性的工作,國(guó)內(nèi)外對(duì)財(cái)務(wù)盡職調(diào)查具有理論和實(shí)踐指導(dǎo)意義的研究尚不豐富,而針對(duì)具有特殊性的并購(gòu)醫(yī)院項(xiàng)目財(cái)務(wù)盡職調(diào)查的研究更是鮮少涉獵。因此,本文將目光聚焦在這個(gè)獨(dú)特領(lǐng)域,在與理論相結(jié)合的基礎(chǔ)上,主要根據(jù)實(shí)踐經(jīng)驗(yàn),對(duì)注冊(cè)會(huì)計(jì)師財(cái)務(wù)盡職調(diào)查在并購(gòu)醫(yī)院項(xiàng)目中應(yīng)用的重點(diǎn)問(wèn)題進(jìn)行分析,并提出相應(yīng)的解決對(duì)策,為今后注冊(cè)會(huì)計(jì)師開(kāi)展相關(guān)領(lǐng)域財(cái)務(wù)盡職調(diào)查業(yè)務(wù)提供指導(dǎo)。本文首先對(duì)盡職調(diào)查和財(cái)務(wù)盡職調(diào)查相關(guān)的概念以及原理進(jìn)行了論述,為整體文章提供理論依據(jù)和基礎(chǔ);然后從調(diào)查準(zhǔn)備階段、調(diào)查實(shí)施階段和分析判斷階段這三個(gè)主要階段出發(fā),按工作順序詳細(xì)分析注冊(cè)會(huì)計(jì)師財(cái)務(wù)盡職調(diào)查在并購(gòu)醫(yī)院項(xiàng)目中應(yīng)用的的關(guān)鍵點(diǎn),指出各工作階段應(yīng)該重點(diǎn)注意的問(wèn)題以及應(yīng)對(duì)策略;接著引入T公司并購(gòu)C婦產(chǎn)醫(yī)院的案例,運(yùn)用前文歸納的三個(gè)階段關(guān)鍵點(diǎn)對(duì)實(shí)際案例進(jìn)行完整的分析,以此驗(yàn)證前文解決對(duì)策的可行性和實(shí)踐意義;最后根據(jù)案例分析過(guò)程總結(jié)出案例啟示,進(jìn)一步完善注冊(cè)會(huì)計(jì)師財(cái)務(wù)盡職調(diào)查在并購(gòu)醫(yī)院項(xiàng)目中的應(yīng)用措施。本文整體的研究希望幫助注冊(cè)會(huì)計(jì)師通過(guò)財(cái)務(wù)盡職調(diào)查為醫(yī)療行業(yè)的戰(zhàn)略投資者提供更加有用的信息,提高并購(gòu)成功率。
[Abstract]:In China, M & A activities have become increasingly common in the capital market, and M & A has become the main way for enterprises to achieve industrial extension and scale expansion. In recent years, with the rapid development of the big health industry, the merger and acquisition of hospitals by social capital is also in full swing, including Fosun Medicine. The investment activities of Lenovo Holdings and Peking University Medical and other enterprises in the hospital industry are growing at a high speed. However, because the operation and financial treatment of the hospital are different from those of the ordinary enterprises, the information asymmetry between the two sides of the merger and acquisition has been increased. As a professional means to reduce information asymmetry, CPA financial due diligence plays a more and more important role in M & A hospital projects. The financial due diligence business carried out by CPA is a very practical work in itself. The research on the theory and practice of financial due diligence at home and abroad is not abundant. However, there is little research on financial due diligence of M & A hospital project. Therefore, this paper focuses on this unique field, on the basis of combining with theory, mainly according to practical experience, analyzes the key issues of the application of CPA financial due diligence in M & A hospital projects. The corresponding countermeasures are put forward to provide guidance for CPA to carry out financial due diligence in related fields in the future. Firstly, this paper discusses the concepts and principles of due diligence and financial due diligence, which provides the theoretical basis and foundation for the whole article. Then, starting from the three main stages of investigation preparation, investigation implementation and analysis and judgment, the key points of the application of CPA financial due diligence in M & A hospital projects are analyzed in detail according to the work order. It points out the problems and countermeasures that should be paid attention to in each stage of work. Then introduce T company M & A C maternity hospital case, use the three key points summarized above to complete the analysis of the actual cases, so as to verify the feasibility and practical significance of the previous solutions; Finally, according to the case analysis process summarized the case enlightenment, further improve the CPA financial due diligence in M & A hospital project application measures. The purpose of this paper is to help CPA to provide more useful information for the strategic investors in the medical industry through financial due diligence and to improve the success rate of M & A.
【學(xué)位授予單位】：首都經(jīng)濟(jì)貿(mào)易大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類(lèi)號(hào)】：R197.322

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本文編號(hào)：2314035