Research On The Effect Of International Convergence Of Chinese Accounting Standards

China began the gradual implementation of Chinese Accounting Standards which has already been basically achieved convergence with International Financial Reporting Standard (IFRS) in 2007. Ministry of Finance issued "the continuing convergence roadmap between China Accounting Standards and International Financial Reporting Standards" (referred to as the roadmap) on April 2,2010, which has made a significant contribution for the establishment of a unified high-quality global accounting standards. Compared with the formal convergence, however, information users pay more attention to accounting practice convergence, only which can achieve real comparability of financial reporting, so as to provide useful accounting information to decision-making and macro-control. But, how does Chinese accounting international convergence behave essential?In order to study this question, based on the study of the international and domestic literature and theory, this paper selects accounting data disclosed in AH-share companies' annual reports as the object, tries to investigate the real effect of international convergence of CAS2006 from the double disclosure differences of the financial indexes and the value relevance changes of Chinese accounting information. The conclusions of this article are that:The double disclosure differences of AH-share listed companies have shown significant stage characteristics, and its overall trend was reduced; In terms of value relevance of accounting information, although there were no obvious change laws of R2T year by year, the R2T shown gradually increasing trend stage by stage; Additionally, the stock price(P), earnings per share(EPS) and net assets per share(BV) were positively correlated to one another significantly, and the corelation between P and EPS was higher than that between P and BV. It is thus clear that both the double disclosure differences and the value relevance of accounting information have shown good momentum with the promulgation and implementation of CAS2006. So the paper cleared that:CAS2006 released by the Ministry of Finance not only realized the international convergence of accounting standards, has also made remarkable achievements in practice convergence.