Financial And Accounting Norms

Financial accounting is the branch of accounting to be reported externally, the quality of the information it provides is, therefore , linked to coordination of interests of the parties concerned. Adopting the research method of the normative accounting theory, this thesis makes a study of the issue of financial accounting information regulation, based on massive domestic and western literatures, a lot of standards and regulations already promulgated or going to be promulgated, as well as exposure discussions (EDs). Amidst rapid transformation of the world economy, the author intends to offer personal points of view on how financial accounting information to be regulated with efforts to balance interests of all the related, speed up economical development and allocate resources effectively. Thus, the thesis bears the following outlines:Part I : the Raising of the Issue of Financial Accounting InformationRegulationChapter 1: the Necessities of Financial Accounting Information RegulationPart II: the Forms and Contents of Financial Accounting InformationRegulation Chapter 2: the Main Current Forms of Financial AccountingInformation Regulation Chapter 3: the Formation and Development of G AAP in the UnitedStates Chapter 4: Analysis on Accounting Regulation System in MainlandChinaChapter 5: the Study of the Theoretical Base of Regulating AccountingStandards桟onceptual Framework of Financial AccountingPart III: the Future Trends of Financial Accounting InformationRegulationChapter 6: the Future Trends of Financial Accounting and Standards-Formulating in the Eta of Knowledge-based Economy-IV-The following are the highlights of each chapter:Financial accounting is widely known as "Common Language in Commerce" . Financial accounting, as well as modern enterprises and market (capital market), is a key component of the "Three-in-one" in the economic activities. These three components interact with each other and jointly promote the economic development. Therefore, this article will start from this point.Chapter 1 discusses the necessities of financial accounting information regulation respectively from the above three aspects. First of all, a fundamental understanding should be gained about the objective of the topic, that is, recognizing the essential characteristics of financial accounting, so as to get to the very root of the issue. Secondly, prudent efforts to study the relationship between financial accounting and modern business organization would effectively exerted influence on the function of financial accounting in economical activities by the appearance of modern enterprises and further to regulate the output information of financial accounting. Finally, the importance of financial accounting information and the necessities of maintaining its high quality are testified from the market operation, i.e. the intrinsic laws of the market economy梩he competitive rules of fairness, openness and justice. "To make a high-quality financial accounting information, a high-quality regulation institution is needed as a conductor" , this is what the author concludes from the 1929-1937 American capital market crash.Influenced by the politics, economy, culture, education and customs of different countries, the financial accounting information regulation system manifests in different forms and has different contents. Chapter 2 further examines the main categories of the forms of financial accounting information regulation and their background environment, their purposes, their functions, how to formulate and what to regulate. Follow this thinking route the author goes from evidence observation to conceptual awareness. Through tracing the above research, the author also intends to obtain a general concept about how the current main financial accounting regulation functions, as the base for further study. As the saying goes, " Other people's advice is of help and experience is a good teacher" . Chapter 3 and 4 study the American GAAP and the-v-...