Research On International Convergence Of China's Accounting Standards

After International Accounting Standards Committee was restructured,the development of accounting standards has been the stage from international harmonization to international convergence.International convergence of accounting standards has been a key issue for accounting academics in recent years.With the rapid development of economic globalization and especially the growth of international capital markets,international convergence of accounting standards has become the inevitable and realistic issue for countries worldwide.States are adding to the ranks of promoting the international convergence of accounting standards.Developing the economy,China must melt into the international economic tide and face the global convergence of accounting standards.China has also accelerated step,and scored a basical achievement-promulgated the new accounting standards which has high degree of convergence with International Accounting Standards.This process of internationalization for China's accounting Standards to say has an important theoretical and practical significance.With the issue of Chinese new accounting Standards,China's Accounting Standards(CASs) have fully converged with International Financial Reporting Standards( IFRSs).But because of Chinese special economic environment,China's Accounting Standards(CASs)do differ from International Financial Reporting Standard(sIFRSs)in many aspects.Accordingly, how to deal with the differences becomes a long-standing and crucial issue faced by China,Which needs to be resolved as soon as possible.Furthermore,in the environment of global convergence,the issue of how to protect China's interests becomes more and more urgent.The paper uses normative research and comparative method and relevant theories.Firstly,This dissertation theoretically analyzes and distinguishes the related concepts of international convergence of accounting standards,which helps to get a better understanding for academic research.In chapter 2,this dissertation analyzes the necessity and the feasibility that China's Accounting Standards converge with IFRS.In the environment of global convergence,China's Accounting Standards have fully converged with IFRS.But because of Chinese special economic environment,CASs do differ from IFRSs in many aspects.In chapter 3,this dissertation smyatically analyzes this issue.Based on the theory of impact of economy,global convergence of accounting Standards must have the economic result.In chapter 4,the dissertation theoretically analyzes the negative and the positive economic result of global convergence of China's Accounting Standards.In chapter 5,based on above analysis,the principles we should follow and the countermeasures we should take during the process of China's accounting internationalization are provided.Convergence of accounting standards in China is a step-by-step process,We should be weighing the pros and cons of the situation,to fully integrate China's national conditions,actively and steadily push forward the international convergence of accounting standards.From the stability point of view, every effort should be made to consider the actual situation in China,according to China's political,economic,legal system reform and trends,in particular the level of development of market economy and global economic integration process,continuously revising and improving our country's accounting standards.From a development perspective,we must further accelerate the convergence of international accounting standards and the pace.