由於個案公司致力於垂直整合產業之上、中、下游，並同步投資其水平事業，擁有眾多具有控制力之轉投資公司。會計研究發展基金會於民國93年12月9日完成財務會計準則公報第七號「合併財務報表」之修正，並適用於民國94年1月1日（含）以後之財務報表，該次修正最主要是將以往持股50%做為判斷子公司的基準，擴大為改採實質控制能力判斷。此修訂使個案公司納入編製合併報表的子公司由民國93年的8家，大幅增加為94年的62家。<br><br>本研究探討該公司因七號公報修訂為以實質控制能力做為判斷子公司標準對合併報表的影響。首先，以94年度財務數據為基礎，比較在相同年度依新舊七號公報的規範，所產生各項財務資訊的差異，其次探討因子公司營業性質不同而須納入合併報表的新規範下，納入或不納入某些子公司對合併報表的影響。<br><br>本研究發現，採新公報規範所得到合併報表的數據表現，不論在獲利能力、償債能力、股東權益報酬率、現金流量情形都較為不利，顯示個案公司因採實質控制能力判斷後之合併報表財務資訊較為完整及全面。另因營業性質不同而納入或不納入某些子公司的探討結果，顯示多角化投資策略對提昇個案公司營運績效上雖有所助益，但易面臨因市場波動因素較難掌握的風險。本研究結果除了驗證七號公報修改為以實質控制能力進行子公司判斷後，確能反應企業實際經營全貌，提升企業財務資訊的透明度之外，同時可提供政府機關、投資人等更具攸關資訊，以供其進行各項決策之參考。<br> The Statement of Financial Accounting Standards (SFAS) No.7 has been amended to include all subsidiaries, the investee companies, under “ real economic ” control of the parent company in the preparation of consolidated financial statements, therefore, the revision makes a motor company’s consolidated statements entities increse from eight in 2004 (before the evision) to sixty-two in 2005(after the evision).<br>The essay adopts case study for a motor company to observe how the revision of the SFAS No.7 affects its’ financial information. The financial data of year 2005 is used to establish two kinds of the consolidated financial statements, one is prepared by revised SFAS No. 7, the other one is prepared by unrevised, and analyze them.<br>The findings after analyze the two kinds of the consolidated financial statements shows that the results of the consolidated financial statements prepared by revised SFAS No.7, no matter the earning power, Liquidity, ROE ,Cash Flow, is not as good as the consolidated financial statements prepared by unrevised. It indicates the revision leads to the improvement of adequacy and transparency for the financial statement release to the public, and causes the group companies to release more complete information to the capital market. It ends up with favorable development for investors, groups companies and the total capital market. <br>
