The Usefulness Ofaccounting Information Under The Changing Of Accounting Standards

Accounting standards could be able to standardize the accounting behavior to some extent, and could be able to ensure higher level usefulness of accounting information. In the history of the development of accounting, accounting standards had been revised and improved, and designed to maintain the normal economic order and to safeguard the sound development of capital markets. The accounting information users, including governments,investors and creditors are increasingly emphasing on the quality of accounting information. The asset impairment accounting has had a relatively great influence on the usefulness of accounting information, so it is an important aspect for improving the accounting system and accounting standards to revise the Impairment of Assets.In this paper, the author first analyzed the changes of accounting standards, and through analyzing the relevant theories of the assets impairment and the accounting information usefulness, the paper introduced the impact of the changes of the assets impairment on the accounting information usefulness in all aspects. In the empirical analysis, this paper selected 740 listed companies in 2006 to 2008 as samples, applied multiple regression analysis, to study the impact of the implementation of the new assets impairment on the accounting information usefulness. In this analysis, we used DA to measure the usefulness of accounting information. The study found that the implementation of the new equity investment impairment and long-term fixed asset impairment policy improved the accounting information usefulness of listed companies, and to some extent, it means that the reform of China's accounting standards can be described as effective.During the last part of this paper, we mainly provided the effective methods to improve the usefulness of accounting information from the accounting information provider and the regulator and from other sides, and rephrased the effect of the system and the regulation. In my opinion, in order to improve the accounting information usefulness of the capital markets, we should pay enough attention. I believe that through continuous improvement of accounting standards, as well as the deepening of market regulation, the accounting information quality can be finally improved.