The top executives of al-Kwan's stake are not yet counted

A few days ago, investors to the China Securities News reporter reflected that closed aluminum shares (000831) former chairman, current general manager Liqing, former general manager, the current vice chairman of Wang Changko, as well as Dong Secretary Zheng, chief accountant Ching just four senior executives, owed more than 460,000 yuan to the company's accounts, and was counted 1% of bad debt preparation.　　In response to this senior executive's arrears, the Chinese securities News reporter looked at the 2008 annual Aluminum Holdings report, and in the "Related party relations and transactions related to the balance" in the column found the relevant information, investors reflect the situation is completely true. Bad debt account to explain difficult round off aluminum shares 2008 Annual report disclosed, Wang Changko owed the company 278,136 Yuan, Zheng home owed 103,989 Yuan, Liqing owed 50,000 yuan, Ching just owed 30,000 yuan.　　But the report does not disclose when these transactions began and how they were formed. The annual report also disclosed that the company has made 1% of the current accounts receivable account for the provision of bad debts.　　According to the notes on the financial statements of the annual report on the aluminium-related shares, the accounts receivable period is 1 years, 1%, 1-2 years 5%, 2-3 year 10%. The reporter also noted that the company's 2008 annual report also showed that at the beginning of the reporting period, Wang Changko owed the balance of 157,000 yuan, Zheng home for 149,800 Yuan, liqing for 20,000 yuan, Ching for 10,000 yuan.　　That means the four executives have already owed more than $300,000 in 2007. It is inevitable that executives and companies in listed companies generate current accounts, but it is extremely rare that the amounts owed are being prepared for bad debts. Although the 4600 yuan of the closed-aluminum stake in the preparation of the company in 2008 nearly 500 million yuan losses, but according to the annual report, the four outstanding senior executives of the annual salary of more than 200,000 yuan, of which liqing and Wang Changko are 286,600 yuan, Zheng and Ching are 209,950 yuan.　　It should be said that they have no difficulty in paying off the arrears in time. In this respect, Dong Zheng's home to the Chinese securities newspaper reporter explained that these fees are the company's senior management's travel expenses and other borrowings, because the work is not timely reimbursement. Reporter feedback This information, some investors said: "This is even more strange, as a common sense, travel entertainment expenses as long as the invoice in a timely manner, it will not form bad debts and even be accounted for, without the four big executives from the money." "Therefore, the conclusions drawn from the words of the Zheng are no different from these possibilities: one or four senior executives are busy, rather the formation of accounts receivable is accounted for (four senior executives of the company's own system of accounting can not understand, not to mention that there are also the Chief accountant), also cannot squeeze out the time of reimbursement, its subordinates are too busy to agent;　　, the company's financial staff failed to remind the four senior executives in time to repay, resulting in bad debts to mention the embarrassing phenomenon. With a huge deficit of nearly 500 million yuan in 2008, the management cost of the aluminium-related shares increased by 63%. It seems that this is not accidental formation. These investors believe that if the above two points are excluded, the nature of the problem may not be the same, even can be saidExecutives are suspected of malicious embezzlement of public funds.　　The basic integrity can not be violated for the moment, regardless of the nature of the matter, even if only from a technical point of view, but also suspicious. Since 2007 years has been the formation of senior management arrears, the year's annual report and all the interim notice is not found in these accounts receivable information.　　The 2007 annual report shows that the annual accrual scheme is also 1% of receivables in one year. In response, Zheng's answer is that the balance of arrears in 2007 did not meet the disclosure standards, but when the Chinese securities News reporter pressed the disclosure criteria, he said, this may be related to the audit of accounting firms, because 2008 the company changed the accounting firm.　　In any case, 2007 years without a timely account of the arrears of senior executives has been inconsistent with the accounting system.　　In fact, in the 2007-2008-year period, all the announcements issued by Al-Kwan's stake did not mention the arrears of the big four executives until April 14, 2009, when they were disclosed in the 2008 Annual report. As a result, some investors believe that the difference between the 2007 and 2008, has already exposed the deficiencies in the implementation of the financial system, and executives, if they do not have the time to be reimbursed due to the company's account of bad debts, corporate management slack and casual can also be seen. What would happen if all the executives or all the staff could borrow money from the company? Although the amount of this case is small, but due to the personal reasons for the formation of bad debts, the theory further eroded the already serious losses of the company's profits, but also eroded the majority of shareholders, including the interests of the entire shareholder. Therefore, the issues embodied in the listed companies ' integrity and standardization of senior executives should not be overlooked.