A Study On The Reform Of Classification And Presentation Of The Information Recognized In The Corporate Financial Statements

At the beginning of this century, some financial scandals of famous companies had made the financial accounting standards and financial reports been condemned. The orientation of the accounting standards-setting and the future of the corporate financial reporting lie in the crossroads of the reformation. The sub-prime crisis bursting out in America in 2007 has turned into financial crisis and economic crisis, which have made great influence on real economy of many countries, including many developing countries. To what extent that financial accounting standards and financial reporting should be responsible for the entire crisis? Of course, nobody can give the answers. However, these two events have forced accounting standard-setting bodies to reconsider on the reform of the financial accounting standards and financial reporting. Since 2008, FASB & IASB began to reconsider on the Fair Value and promised to do reform financial report under the related parties' pressure. FASB &IASB issued the Discussion paper - Preliminary views on financial statements presentation in 2008, which came up with some Innovative ideas. The aim of this paper was to study on the classification and presentation of the information recognized in the financial statements from the financial statements analysis perspective based on the status of Chinese accounting standards and financial statements reform.This article includes five chapters. Chapter 1 is the introduction. The author comes up with the study topic and the research framework of the dissertation. Chapter 2 reviews on the main literature in the areas of financial statements and financial reporting reform. Then, the author thinks that the paper can study on the reform of the financial statements from the financial statements analysis perspective. Chapter 3 is the reform of the classification and presentation of the information recognized in the financial statements. The chapter introduces and reviews on the main contents of Discussion paper -Preliminary views on financial statements presentation issued by IASB &FASB in 2008. Chapter 4 is the study on the reform of Chinese accounting standard Financial Statements Presentation. Basing on the previous chapters, the chapter reconsiders and proposes some ideas on the classification and the presentation of the information recognized in the financial statements base on Chinese accounting standards. The last chapter, chapter 5, is case study. The chapter compares the current presentation model with the presentation model proposed in this paper based on the case. Finally, the author brings forward the conclusion and the suggestion. At the same time, the author also points out the shortcomings of the paper.There may be some new ideas in this paper. First, the study idea is new in china. The author studies on financial statements reform from financial statements analysis angel of view. Second, the paper concentrates on the classification and presentation of the information recognized in the financial statement, which is different from most of the previous literature. So the paper can study carefully on this relative limited topic. Last, the paper puts forward some suggestions on the information classification and the information presentation to Chinese accounting standards based on the background of China and the ideas issued by IASB & FASB. The author hopes the suggestion would be helpful to the reformation of Chinese accounting standard Financial Statements Presentation.