The Consideration On The Reform Of Presentation Of The Information Recognized In The Financial Statements

At the early 21st century, a number of world's top 500 broke out a series of world-shaking accounting scandals such as American energy giant of Enron Corporation and communication giant of Stone Corporation. Such financial scandals make the auditing circle and accounting circle suffered tremendous criticism, caused serious concern and argument about the reformation of financial report and the direction of accounting standards'establishment. Michael Huston(2002) said:financial report is on a crossroads, what course to follow will relate to the influence of accounting standards organization in the future.Since 2007,with the bursting of property. bubble,fast fall of the building prices, subprime mortgage crisis ocurred in the USA, bring about financial crisis directly, and spread at a high speed, result in a worldwide financial crisis,make the world fall into a most serious recession after the second world war.In the financial crisis,some people who worked on financial and political fields,even world organization believe that the hief criminal of the financial crisis is "fair value".The control of the financial crisis make the establishment of accounting standard rise to a nprecedented height.As a carrier of financial information,financial report is a result of accounting standard's directly effect.The improvement of the financial statement will enhance the diaphaneity and comparablity about accounting information. Therefore,it is inevitable to improve the financial statements in the prosses of establishing worldwide, unified and high quality accounting standards.Financial statements is the core of financial reports.there have been international debates over the complexity of financial information and form of financial statements.How to make the financial statements timely,accurate,and effectively communicate to the usersof the financial information,has been a direction to whom the accounting theory and practice of wokers strive for. International convergence of accounting standards, reflected in the financial statements, recently made significant progress. October 16,2008,the International Accounting Standards (IASB) and the U.S. Financial Accounting Standards Board (FASB) jointly issued a Discussion Paper:《Preliminary Views on Financial Statement Presentation》.The preliminary views is the world's two most influential standard-setting bodies on the financial statements reported the result of the second phase of the joint reserch project,made the presentation on the financial statements for major reform of the specific programs,representing the reform of international financial statements,will lead to a revolution in financial reporting.China as an emerging market economices in transition,are actively pursuing with the International Financial Reporting Standards (IFRS) continued convergence.Understanding of the "preliminary views" and actively paticipate in the process of soliciting opinions,concerns IFRS's possible significant change,have played a important role in promoting China's accounting standards and IFRS convergence and the continuing overall preveration of our national interests.It is has been a long time for the calling for the reform of the financial statement and financial report,but the main concern of the FASB and IASB is the reform of the financial statements,and the perspective is very new. Based on such background,combined with current situation in our country,the paper summeriazes the report of financial statement in our country,and proposes the recommendations for improvement.The framework of the paper is divided into five chapters, the zero-chapter is introduction,proposed research background and basic structure,and a deteiled review of the financial statements and financial reports available on the main elements of reform.Chapter one presented the basis of information theory about the financial statements,including the theoretical reasons and specific reasons.The second chapter describes our current practice of financial statements and it's main problems. The third chapter describes and evaluates the FASB and the IASB's statement for the ongoing improvement,and the enlightenment to our country. Chapter four, based on the previous section,present the proposal to improve the presentation of our financial statements.