Study Of Economic Consequences For Accounting Standard Internationalization In China

In February 2006, the Ministry of Finance promulgated the new enterprise accounting standard, and stipulated it to be carried out in the listed companies from January 1, 2007. Other enterprises would be encouraged to execute it. Along with the standard application guide officially issued at the end of last year, our country's new enterprise accounting standard system was officially built up. The new accounting standard system has realized the connection with the international custom and usage. It has vital significance for promoting our country's international competitive power in capital market, enhancing the enterprises' domestic and foreign creditworthiness, increasing the financial information disclosure, and protecting the benefit of investor that various enterprises use the same accountant essential factor confirmation, the measurements and the report standard with the international unification.However, while the accounting standard internationalization yields certain result, many people oppugn the necessity of the accounting standard internationalization, and it caused the argument about the accounting standard internationalization and nationalization. This article uses the theory of the economic consequence to elaborate the economic consequence of our country's accounting standard internationalization, and uses the real diagnosis research method to study the economical consequence for accounting standard internationalization in China. The study obtains a conclusion: the accounting standard internationalization is advantageous to the massive attraction of foreign capital and foreign investment, at the same time, the negative economic consequence that the accounting information distortion aspect which the profit holds controls causes is not remarkable. The primary content of this article includes:The first chapter is introductory remark. It mainly elaborates the advancement and the barrier of Chinese accounting standard internationalization, and analyzes the necessity of the research on the economic consequence for the accounting standard internationalization. It systematically reviews and summarizes the domestic and foreign research achievements on economical consequence of accounting standard internationalization. In the foundation of the analysis to these achievements, I propose the research mentality and the major point of this article, and point out the innovation and the insufficiency.In the second chapter, I systematically compare and analyze the internationalization and the nationalization of the accounting standard: I Elaborate the essence and power of the accounting standard internationalization, also the concrete represent and the reason that the accounting standard nationalization's long term standing. I point out that the government should understand and deal with correctly the relations between accounting standard internationalization and the Chinese characteristics. Business general character and the national individuality should be both pay great attention.In the third chapter, I review the course of our country's accounting standard internationalization. By analyzing the factors which affect the formulation of the accounting standard, comparing between the new accounting standard and old accounting standard, the new accounting standard and the international accounting standard, I obtain the conclusion that the promulgation of the new accounting standard is the important step in the process of internationalization.In the fourth chapter, I conduct a real diagnosis research about the economic consequence of the accounting standard internationalization. The samples were selected in the 2002-2006 AB stock to be listed. Firstly, I calculate the accounting standard internationalization degree and profit operation degree of 2002-2006 year by using the Excel software, then use our country's import and export volume as the substitution variable of the frontage economic consequence, and the profit operation degree as the substitution variable of the negative economic consequence, study the relevance between these two variables and the accounting standard internationalization degree by using the SPSS statistics software. By these studies I obtain the conclusion: As the accounting standard internationalization degree being higher, the import and export volume is bigger; the relevance between the accounting standard internationalization degree and the profit operation degree is not remarkable. This indicates that in the advancement of our country's accounting standard internationalization, the internationalization could bring the frontage economic consequence, and its negative economic consequence is not remarkable. In the fifth chapter, on the basis of the studies above, I propose some countermeasures and suggestions on the aspects of participating in international accounting standard formulation, consummating our country's accounting standard system, how to treat with the internationalization and the nationalization, enhancing the quality of practicing accountants, and so on.In the sixth chapter, I summarize the research results of this article.