The Internationally Comparative Research Into China Accounting Standards And IFRS

Since the new millennium, with the rapid advance of science&technology, both the integration of global economy and the internationalization of captil market have developed at an increasing rate. As a result, accounting, which serves globally universal business language, is walking toward global convergence. Following the contemporary tide, in 2006 our nation issued new accounting standards for business enterprises (ASBE) which were converged in nature to IFRS.This paper makes a profoundly contrast research into IFRS and 2006 ASBE, anylizing the variances between them, the causes and effects of the variances, and suggesting on how to converge. The first part of the paper begins with the international contrast of accounting standard constitution, contrasting the guide, constituting body and procedures of IFRS and ASBE, suggesting the countermeasures toward the problems of ASBE coustitution by reference to international experiences. The second part contrasts the basic standard with IFRS frame, and the specific standards with IFRS, analyzing the variances between them and the causes, and putting forward the related suggestions. The third part studies on the effects of the variances between IFRS and ASBE, and forecasts the future of the variances. The paper considers the variances will result in some influences on the companies which can't be neglected, and will exist in future. The reduction or removal of the variances will depend on the convergence of accounting environments. The fourth part studies on the course from the harmonization to the convergence while IASB and our nation have advanced on the accounting international convergence. The final part points out the problems of our nation's accounting international convergence on which based on, the paper puts forwards some suggestions to reduce the variances between IFRS and ASBE, and to further the international convergence.The paper adopts the horizontal and vertical contrast methods on the research into IFRS, ASBE and the constitution theory, adopts the financial analysis method when studying on the effects of the variances, adopts the induction method when studying on the convergence, and adopts illustration and taxonomy methods where appropriate. Basically, the paper adopts the normative method. The research result is that 2006 ASBE has already converged in nature to IFRS though there are limited variances in some areas which will exist for a period of time and result in some influences which can't be neglected. The paper believes that at present, the convergence of accounting standards is only in nature, and accounting environments'variances should first be eliminated if the complete international convergence is to be achieved.