A Research On International Convergence Of Chinese Accounting Standards

The Chinese accounting management and scholars will face the issues how to respond to the challenges and opportunities about international convergence of accounting. China has been a positive attitude to promote international convergence of accounting standards in China from the last century. Although the fruitful results have been achieved, there is still a gap compared with international accounting standards. On February 15, in 2006, Chinese Ministry of Finance issued a new "Enterprise Accounting Standards". The new standards consists of a basic accounting standards and 38 specific accounting standards. On January 1, in 2007, it began the implementation among the listed companies, and encourage the implementation in other enterprises. Beginning in the formulation of new standards, the objectives have been defined as "international convergence",and envovled as the new guiding theroy about accounting standard setting in China. At present, the accounting standards in China has reached agreement with the international accounting standards. China must be clear of the world form, grasping the opportunity, accepting the international challenge and analyzing the pros and cons, in order to make contributions to promoting convergence of accounting standards worldwide.In this paper, the background of economic globalization as an entry point of international convergence of accounting standards in China were studied. The article first analyzes the background of international convergence of accounting standards as well as resistance to the international convergence of accounting standards related concepts are described, and a brief analysis of the status of international convergence of accounting standards, and then from a theoretical point of view of our country's process of international convergence of accounting standards . This will be China's accounting standards with international accounting standards system for comparative study of China's basic norms and financial accounting conceptual framework for comparison, revealed by comparing China's accounting standards with international accounting standards differences and to analyze the reasons put forward to enhance China's international convergence of accounting standards policy recommendations.This innovation is aimed at accounting standards by the "coordination" to "convergence" of change, analysis of the reasons put forward by no means equivalent to the convergence; the other hand, combined with the Financial Accounting Comparative Study of the conceptual framework proposed by China in the development of basic accounting guidelines, the International convergence of positioning, with a view to the improvement of China's accounting standards to make a little contribution.In China, due to the concept of international convergence of accounting standards were submitted late, this paper makes a comprehensive and systematic exposition on the concept with abundant literature as references. In addition, the author makes the explanation of relevant theories research and analysis of new accounting standards in Chinese enterprises closely linked to the pulse of the times so as to embody the characteristics of the times.