The New Insurance Accounting Standards Impact On China's Insurance Industry

2008 is the china's insurance industry in the 30th anniversary of the resumption of domestic business. Today's insurance industry in China to prosperity and thriving it displayed in front of the Chinese people the insurance industry has been achieved remarkable results. However, China's insurance accounting theory seriously lagged behind the development of insurance accounting practices.With the development of China's insurance it need a new accounting stards which can reflect it's business nature clearly 2006. For the Convergence with international accounting standards, strengthening the relevance of accounting information, improve the Comparability of accounting information, the ministry of finance issued 39 new enterprise accounting standards,this is the first time in the foundation of China's insurer financial system punished the《Entetprise Accounting Standards No.25》,《Enterprise Accounting Standards No.26》, after that the China Insurance Regulatory Commission issued the insurance industry on the implementation of the new accounting standards related matters notice require that the entire insurance industry from January 1, 2007 start to use the new accounting standards.the new accounting standards for insurance not only have a significant impact on accounting measurement but also have a great impact on supervision of insurance companies,which proposed a series of new challenges. Analysis of the implementation of new accounting standards on the impact of the entire insurance industry, exploring How to correctly reflect the value of the insurance industry measurement of assets and liabilities properties, to provide a correct reflection of a comprehensive insurance companies operating results and financial position of the financial reports and how to carry out the new insurance accounting standards under the supervision of CIRC has become the problem which insurance industry and the accounting profession not hesitate to solve it.This thesis is divided into four chapters:Chapter 1 of this thesis research writing original intention to this thesis and introduce domestic and international accounting standards. Chapter 2 of thesis evolving the process, of the insurance accounting standards in China. Analysis of differences between the old and the new insurance accounting standards.Chapter 3 form the entry point to analysis impact on the insurance companies's accounting measures, the disclosure of accounting information and other aspects of the impaction and give the insurance company useful suggestions.Chapter 4 of the this thesis expounded th the great impact on china's insurance supervision and financial regulation of the market behavior and give the useful suggestions to monitors.