2003至2005年間，中國資產減損會計與國際會計準則相近，允許經理人提列資產減損損失及迴轉利益；同期間，證券管理當局以淨利或股東權益報酬率為指標，決定是否終止上市或得否發行新股，此特殊環境形成盈餘管理的動機。研究結果顯示中國上市公司於可能取得配股或增發資格時，會減少資產減損和增加迴轉利益；中國經理人於連續虧損年度，為增加未來轉虧為盈之機率，亦有提列較高資產減損和較低迴轉利益的現象。由於本研究區分正常及異常資產減損(迴轉)，並先估算盈餘管理動機的機率，再用以解釋異常資產減損(迴轉)，且研究之資產減損項目包括壞帳準備等八項，因而能以創新的方法，完整呈現中國資產減損會計的全貌，作為已採用或將採用國際會計準則國家的參考。

Accounting practice for asset impairment in China was similar with International Financial Reporting Standard (IFRS) over the 2003-2005 period. Managers of listed firms in China were allowed to write off and reverse asset impairment loss. In this same period, Chinese authorities used net income or return on equity as a standard to decide whether a firm was to be de-listed or allowed to make seasoned-equity offerings (SEOs). This special setting created an incentive to manage accounting earnings. Our empirical results show that Chinese firms will decrease the write-offs or increase the reversals of asset impairment losses to qualify for issuing new shares. They will also increase the write-offs or decrease the reversals of asset impairment losses to increase the probability of not reporting a loss in consecutive years with net losses. Our research design separates abnormal from normal write-offs and reversals. Moreover, we estimate the likelihood of earnings management
before explaining its impact on the abnormal write-offs and reversals. We use write-offs and reversals of eight asset accounts and are able to show a complete picture of the impairment accounting in China. The results also provide a reference for countries that have applied for or will apply for the IFRS.