Economic Analysis On Chinese Accounting Standards And International Accounting Standards Convergence

Since the reform and opening in 1979, the economic reform to China's economic environment, legal environment, earth-shaking changes have taken place, most enterprises have started moving in the direction of the modern enterprise system development, operation mode, organizational governance structure, ownership structure have changed. In particular, to join the World Trade Organization, international trade has been more frequent, making the comparability of accounting information as value information for the investors. Accounting standards as the basis for corporate disclosure of accounting information have also become the object of many scholars. In order to reduce transaction costs, reduce differences in accounting standards lead to trade friction, China's accounting standards after a number of reforms, began to international accounting standards convergence. This paper reviews the historical process of our accounting system and foreign accounting standards coordination process, and analyzes the reasons for convergence of accounting standards in China from an economic point of view. After comparing the differences between our old and new accounting standards and the differences between China's new accounting standards and international accounting standards , with its China's Shanghai and Shenzhen A, B shares listed on the same time, while the disclosure of net profit of listed companies as samples, selected the net profit of 2005-2008 as an indicator, using descriptive statistics and WILCOXON tests, this paper confirms that the universality differences between our current new accounting standards and international accounting standards declined, and there was no significant difference, showing a substantial international accounting standards convergence. However, behind this convergence, the copy is not completely copied, still maintained in some characteristics of our country, so that the new accounting standards are currently adapting our system environment, accounting standards. Finally, put forward my own views on the future direction of China's accounting standards and policy recommendations.