The Research About The Convergence Between Chinese Accounting Standards And International Financial Report Standards

The Group of 20 (G20) held the Washington Summit Meeting on November 15,2008. For the problems exposed in international financial crisis, the meeting made the target of improving the governance structure of International Accounting Standards Board (IASB) and establishing high-quality global accounting standards. In this context, international convergence of accounting standards set off a wave of unrest at home and abroad, and it is also effective. In the meantime, IASB issued a succession of exposure draft which are in the discussion. The reasonable, operability, suitability and other issues in our country of the draft are worthy in-depth discuss. In this sensitive period, each country views may change the development of guidelines, and every movement of IASB will have a significant impact on China. China should be involved in changing guidelines project actively. Make the process of establishing the high-quality global accounting standards fully consider emerging market economies, including China. At the same time, it removed the differences between existing Accounting Standards and IFRS to realize of a global unified effort of high-quality accounting standards.This article is on the basis of the international convergence of accounting standards home and abroad. First, it regards the international convergence of accounting standards as the starting point to analyze of the inner meaning and clear the necessity of international convergence of accounting standards. Secondly, it points out that the IASB on IFRS latest changes. It also points that the International Financial Reporting Standards in the classification and measurement of financial instruments, fair value measurement and financial statement presentation made amendments. At the same time, it analyzes of the impact of making consequential amendments to clear conditions in our specific standarders for convergence problems. Last, we should changes in the active participation of our standards, developing guidelines based on national conditions of China. Then it proposes several specific coping strategies.