On January 1, 2024, the Interim Provisions on the Accounting Treatment of Enterprise Data Resources (hereinafter referred to as the "Interim Provisions") came into effect. The Interim Provisions have formulated special and unified specifications for data resources, which provide a basis and measurement basis for what kind of assets data resources should be included in the balance sheet.
The prosperity of the digital economy is inseparable from the release of the value of data resources. Zhan Rui, a partner of PwC China's model and evaluation consulting services, told the reporter that the "entry of data assets into the table" reveals the economic value of data resources from the perspective of assets, and objectively reflects the economic benefits brought by digital empowerment to enterprises.
Unleash the value of your data resources.
It's time for data assets to be "tabled".
China's data governance and data infrastructure system are gradually improving.
In December 2022, the "Opinions of the Communist Party of China** on Building a Data Basic System to Better Play the Role of Data Elements" (i.e., the "Data 20 Articles") proposed to "establish a data property rights system that protects rights and interests and uses them in compliance" and "explores new models for data assets to be included in the table". Since then, a series of relevant policies have been announced, setting the tone for the future development of the digital economy industry.
In October 2023, the National Data Bureau was listed, and the "Three-Year Action Plan for "Data Elements" (2024-2026) (Draft for Comments) released thereafter proposed that by the end of 2026, the breadth and depth of application scenarios of data elements will be greatly expanded, and the multiplier effect of data elements in the field of economic development will be revealed.
A number of interviewees told the reporter that on the one hand, the theory and practice of "entering the table" of data assets have been continuously improved in the exploration and developmentOn the other hand, many enterprises have already prepared their data assets to a certain extent.
The Interim Provisions have laid a solid foundation for the long-term development of the digital economy and the further release of data value. From micro**, it points the way for enterprises to pursue data-related revenue and profits.
Li Huiyun, the managing partner of Grant Thornton's Shenzhen consulting department, told reporters that after data assets are "included in the table", they can be used as intangible assets in the case of self-use by enterprisesIf it is external** or transactional, it will be treated as inventory. From the perspective of capitalization, the direction of innovative application of data assets includes credit enhancement, transfer, capital contribution, pledge financing, and asset enhancement.
The 'entry of data assets into the table' can more comprehensively reflect the value of enterprise assets, help enterprises obtain multi-channel financial support, and provide effective support for enterprise data asset pledge financing, IPO and other businesses. Guo Mingjun, director of the Planning Division of the Big Data Development Department of the State Information Center, told reporters that the "entry into the table" will further promote the innovation of data asset-based business, accelerate the integration and development of data and capital, and better release the value of data resources.
Inclusion in the table "conditional.
Enterprises must pay attention to data resource management.
Not all data resources can be included as data assets. From data resources to data assets, and then to "table-in" data assets, not only need top-level design support, but also need a series of data resource management follow-up such as data asset confirmation, evaluation, privacy protection, transaction circulation, etc.
Zheng Hao, Head of Consulting at KPMG China, told reporters that in the future, enterprises should pay more attention to data resource management, such as establishing a data resource management mechanism, clarifying data ownership, management, use and supervision rights, and formulating policies and procedures for the full life cycle management of data assets to ensure the compliance, security and reliability of data assets.
Zheng Hao said that in the future, the market and investors will pay more attention to the value and potential of data resources. This means that enterprises need to invest more money and technology in developing and utilizing data resources, strengthening data resource management and innovation, accelerating digital transformation, and actively addressing challenges and opportunities.
The Interim Provisions came into force on 1 January 2024. The industry generally expects that the 2023 financial reports of some listed companies are expected to appear "data"-related items.
The relevant person in charge of Xintian Green Energy told the reporter that the company is carrying out internal data asset catalog combing, and will analyze the relevant expenses of data resources in accordance with the relevant requirements of the "Interim Provisions", verify whether the confirmation conditions for the capitalization of data resources in the regulations are met one by one, and prepare for the "entry into the table" of data assets.
A person in charge of Radio and Television Express told the reporter: "We always pay attention to the relevant policies and latest trends of data assets 'table', and actively evaluate the feasibility of relevant projects 'table' in combination with the company's business, including preliminary research and data rights confirmation, cost measurement, data governance and management and other related work." ”
So, if enterprises do not pay attention to data collection and data processing, and ignore data resource management, do they not need to consider the "entry into the table" situation?If the answer is no, according to the requirements of the Interim Provisions, enterprises should disclose the accounting information related to data resources in the notes to the accounting statements in accordance with the relevant accounting standards for business enterprises and these Provisions.
The relevant person in charge of the Accounting Department of the Ministry of Finance said that the "Interim Provisions" innovatively adopts the method of "mandatory disclosure and voluntary disclosure", focusing on the information needs of all parties, on the one hand, refining the information required to be disclosed by accounting standards, on the other hand, encouraging and guiding enterprises to continue to strengthen voluntary disclosure, and providing stakeholders with more information related to the value of data resources.
Build a data circulation and trading system.
Use data as a "shovel" to tap "new wealth".
Behind the active exploration of data resources by enterprises is their recognition of the "wealth" attribute of data assets.
At present, many data-intensive enterprises and platform enterprises have a market value greater than their net assets, partly because the asset value of their data is not reflected in the financial statements of enterprises, and this part of the corporate wealth is "ignored" by the financial statements. The "entry of data assets into the table" can not only reflect the business value of the enterprise more truly and objectively, strengthen the contribution of data to the operation of the enterprise, but also provide more valuable information for users of financial statements.
Sun Zhan, a senior consultant at the Strategic Research Center of the Guangdong-Hong Kong-Macao Greater Bay Area Big Data Research Institute, told reporters that enterprises can mine, maintain and enhance the value of their own data, and can exchange rich profits through innovative data products or services. The assetization of data resources can provide positive incentives for the supply side of the data market, and for enterprises, data assetization can bring substantial rights and interests to enterprises, thereby improving the supply quality of enterprise data in the data market on the supply side.
To further unleash the value of data assets, it is necessary to make data assets tradable and circulable. According to the reporter's understanding, local data exchanges have been actively studying the circulation and trading procedures of data assets after they are "entered into the table", formulating policies that meet the characteristics and needs of data resources in the region, and implementing the productization and assetization of data resources.
Zhao Lifang, a researcher at the Shanghai Data Exchange Research Institute, told reporters that the essence of data assets is assets, but their carriers are different from traditional assets, and have the characteristics of subject diversity, high remodeling and value time variation. Therefore, the "entry into the table" of data assets should seek common ground while reserving differences, and be promoted on the basis of following the existing accounting standard framework and combining the characteristics of data itself. Data exchanges and enterprises work together to continuously enrich the application scenarios of data assetization, which will accelerate the practical development of the entire data industry chain.
Liu Junhuizi, director of the financial industry of Guiyang Big Data Exchange, introduced in an interview with the reporter that the data exchange actively explores data assetization, extends data as an asset to the financial industry scene, and takes data asset loan products, data insurance, data bonds, data trusts, etc. as the development target, and will promote the closed-loop formation of data resources "'into the table' - data assetization - data **".
Liu Junhuizi said: "We rely on the core hub of the national data production factor circulation and the national hub node of the national integrated computing power network, integrate the strength of the Guiyang Big Data Exchange and the data center cluster, explore the establishment of data centers, data asset-related industrial investment, and guide social capital to invest in high-quality projects or enterprises through equity participation or direct investment, and incubate and promote the listing and financing of enterprises in related industries." ”
It can be seen that the "entry of data assets into the table" is not only the first step to promote data assetization, but also a key step to use data as a "shovel" to tap "new wealth".
Industry experts believe that the "entry of data assets into the table" can not only promote the establishment of data property rights, data asset registration and other rule systems, but also provide objective conditions for the evaluation and pricing of data resources, and accelerate the circulation and transaction of data resources.
Reporter Guo Jichuan Trainee Reporter Kou Jiali.