Studies Of The Conceptual Framework Of Financial Accounting On Knowledge Economy

The conceptual framework of financial accounting is an important component of the financial accounting theory. Since the FASB issued the first Statement of Financial Accounting Concepts in 1978, other countries and international organizations have worked at it. The idea of making a set of tight, inherent and consistent conceptual framework of financial accounting in order to guide the formulation of accounting standards has been widely accepted.China Accounting Committee Standards issued "Accounting Standard for Business Enterprise" in 1992 and "Accounting Standards for Business Enterprise-Basic Standards" (Exposure Draft) in 2005 as China's conceptual framework of financial accounting. They have been revised, but according to the author, the conceptual framework of financial accounting in China is not perfect yet. It neglects the change of accounting environment and is not forward-looking.This paper is a study of the conceptual framework of financial accounting in knowledge economy era. It is divided into three parts. The first part introduces the basic theory of knowledge economy, reviews the process of formulating conceptual framework of financial accounting, and introduces the results of theoretical researches in knowledge economy era. The second part is mainly a macroscopic. It puts emphasis on accounting environment's influence on financial accounting theory. The author regards knowledge economy as the most important change in accounting environment and thinks that it will influence the research on accounting theory, the formulation of conceptual framework of financial accounting, accounting recognition and accounting measurement. With the development of the accounting informatization, there will be a radical change in accounting theory. The third one is the principle part of the thesis. It studies the formulation of the conceptual framework of financial accounting in knowledge economy era in China. The study includes some basic concepts such as accounting object, accounting assumptions, accounting information quality characteristics, accounting recognition, accounting measurement etc. In the author's opinion, uncertainty should be one of the accounting assumptions. We puts forward the idea of multiple-measurement and proposes that the financial report is in need of improving to correspond with knowledge economy.