China And The Rok International Accounting Standards And Obstacles Comparative Study

Under the great trend of the internationalization and the integration of the world capital market, the accounting information as the international common business oriented language has been more and more convergent. Since China and Korea established diplomatic relations in 1992, along with gradually frequent economic association of two countries, theirs mutual degree of dependence is strengthened progressively too. The accounting criteria of each country should develop in harmony, so that the economy of each country moves towards the markets of each country better. The accounting policies of two countries regard guaranteeing the accounting transparency and promoting market economy as the goal, realize adoption and internationalization of International Accounting Standard.The thesis firstly through the narration and analysis of the essentiality to the International Accounting Standard and internationalization of accounting criterion definition, to find a new starting point of the thesis, thus can hold the importance of internationalization of accounting criterion accurately.Secondly, reviewing the development and internationalized course of the accounting criteria between China and Korea, to find out the new stage of the internationalization in which the two countries faced. China announced that it will release and adopt International Accounting Standard by a wide margin in 2006, and will begin to implement formally in January, 2007. New accounting criterion uses the International Accounting Standard for the reference, meanwhile, put in reasonable contents which are suitable for China's actual conditions, expect to accelerate the process of China's accounting internationalization and incorporate the paces of the international economic system. Meanwhile, for raising domestic accounting transparency of capital market, Korea announced to adopt regulationing of International Accounting Standard generally. In order to implement smoothly, Korea also announced the frame guide which stipulated that the International Accounting Standard will be adopted since 2011.Through the comparison and analysis of the accounting development and internationalized intensity between China and Korea, the thesis would help understanding the accounting environments and accounting system between the two countries. Meanwhile, it hopes to offer beneficial reference to the internationalizational process of problem discovering in the accounting criterion between two countries.