A Comparative Analysis Of CAS And IFRS

In today's open international economic system, increased levels of cross-border economic activity are driving convergence in accounting standards. In 2005, global convergence of accounting standards swept through the whole world, as EU, Australia introduced IFRS at the beginning of the year, other countries such as New Zealand, Russian announced to adopt international standards by various means. At the same time, we note that each country is carefully studying, coordinating and harmonizing the difference between domestic and international standards. As China is getting more and more involved in the international economic system, convergence of accounting standards also becomes an irresistible trend. Harmonization of CAS with IFRS catches great attention both in the academic sphere and the professional sphere. Based on other people's research, the paper extensively exams the difference...