Inquiring On International Convergence Of China's Accounting Standards

International harmonization or global convergence of accounting standards has been a key issue for accounting academics, practitioners and regulators in recent years. With the rapid development of economic globalization and especially the growth of international capital markets, international harmonization of accounting standards has become the inevitable and realistic issue for countries worldwide. Developing the economy , China must melt into the international economic tide and face the global convergence of accounting standards. How should our country recognize and face this question? With the issue of Chinese new accounting standards, China's Accounting Standards(CASs) do differ from International Financial Reporting Standards(IFRSs) in many aspects. Accordingly, how to deal with the differences becomes a long-standing and crucial issue faced by China, which needs to be resolved as soon as possible. Furthermore, in the environment of global convergence ,the issue of how to protect China's interests becomes more and more urgent.This dissertation explores the relevant issues from the convergence of China's Accounting Standards. Firstly, in order to get a comprehensive and clear understanding of the process of international convergence of accounting standards in China, this dissertation theoretically analyzes and distinguishes the related concepts of international convergence of accounting standards ,which helps to get a better understanding for academic research.In chapter 2, this dissertation analyzes the necessity and the feasibility that China's Accounting Standards converge with IFRS.In the environment of global convergence, China's Accounting Standards have fully converged with IFRS .But because of Chinese special economic environment, CASs do differ from IFRSs in many aspects. In chapter 3, this dissertation symatically analyzes this issue.Based on the theory of impact of economy , global convergence of accounting standards must have the economic result. In chapter 4, the dissertation theoretically analyzes the negative and the positive economic result of global convergence of China's Accounting Standards.In chapter 5,based on above analysis, the principles we should follow and the countermeasures we should take during the process of China's accounting internationalization are provided.