| English abstract | Abstract
As the world's largest greenhouse gas emitter, China shoulders the urgent responsibility of energy conservation, environmental protection, and low-carbon development. With the growing popularity of the low-carbon economy, carbon emission trading has become an efficient and flexible approach to promote greenhouse gas emission reduction. After years of pilot work, China officially launched the national carbon emission trading market in December 2017, which is a significant measure to control greenhouse gas emissions through market mechanisms. However, due to the uniqueness and complexity of carbon emission rights, there is currently a lack of a clear and unified accounting standard, leading to inconsistencies in accounting practices among enterprises, which affects the relevance and comparability of accounting information. Conducting research on the accounting recognition and measurement of carbon emission trading can provide references and theoretical support for the formulation of relevant standards in China, which has certain practical and theoretical significance.
Based on the comb of the relevant literature on the accounting recognition and measurement of carbon emission trading, this paper uses the theory of property rights economy, social responsibility theory, sustainable development theory and other accounting theories related to carbon emission trading, and studies the thermal power industry, which is the first to open a national unified carbon trading market. Combined with the particularity of thermal power enterprises and the urgency of implementing carbon accounting, the necessity of implementing carbon accounting treatment is analyzed and the regulations on the accounting recognition and measurement of carbon emission trading in the thermal power industry are specifically explained. Taking HuaNeng Power International as an example, the accounting recognition and measurement status of its carbon emission trading is analyzed, and the accounting problems existing in the carbon emission trading of HuaNeng Power International are pointed out. After the case analysis of HuaNeng Power International, the controversial issues existing in the accounting recognition and measurement of carbon emission trading under the current system are deeply analyzed, and the problems of the accounting recognition of free quota, the selection of accounting measurement methods of carbon emission, the accounting treatment of the sale of quota and the treatment of trading profit and loss are obvious. It puts forward some targeted suggestions, such as recognizing the free quota as an asset, accounting measurement according to the fair value, the accounting treatment of the sale of quota at different sales times, and the recognition of trading profit and loss according to different sales uses.
Through the case study of HuaNeng Power International carbon emission right accounting recognition and measurement, we can further enrich the relevant accounting treatment theories such as carbon emission right recognition and measurement. Practically, the case study of HuaNeng International's carbon emission rights accounting confirmation and measurement offers valuable insights for enterprises within the same industry, guiding them towards executing sound and efficient financial accounting. Furthermore, it assists regulatory bodies in executing precise supervision and control over enterprises' carbon emissions, fostering a virtuous cycle of "practice-reflection-practice validation-theoretical advancement". Ultimately, this cycle propels the ongoing development of China's carbon emissions trading financial accounting practices.
Keywords：Power generation enterprise; Carbon emission trading; Accounting recognition; Accounting measurement; HuaNeng Power International. |
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