China's Public Welfare Institutions Accounting Standards Research

Since entering the 21st century, with the rapid expansion of Chinese state-owned non-operating assets and the continuous improvement of public services, our public institutions have experienced a fast growth, size of assets and growth rate increasing, as well as economic activities representing new characteristics, which requires improving the management of state-owned assets in public institutions. As the most important and basic part of public institution state-owned assets management system, the accounting standards plays a pivotal role. However, as the reform of our budget system and public institution system continues in depth and the internationalization trend of accounting standards upgrades, the environment within which our public institution accounting standards operate has changed dramatically, thus the current standards have become increasingly unable to adapt to these new developments and practices. Chinese accounting experts both in theory and practice fields are undertaking research actively on how to build a set of public institution accounting standards which is not only in consistent with our national conditions but also taking the international standards into account.In the background, this paper seriously studies, analyzes and compares the public institution (or public non-profit organization) accounting standards that IPSASB, IASB, the United States and China drew, consequently proposed an initial plan to build a set of our public institution accounting standards tentatively.This paper can be divided into three parts:Part one,namely, chapter two. Starting from the meaning of public institutions in China, this paper briefly introduces the basic institutions of public institutions and public institution accounting standards, including the characteristics and categories of public institutions, the history and reform of public institution accounting standards.Part two, namely, chapter three. From the perspectives of accounting objective, qualitative characteristics of accounting information, accounting elements, accounting basis and accounting information disclosure, this paper compares and researches the theoretical achievements and practices of several countries (or international organizations) about public institution (or public non-profit organization) accountingPart three,namely, chapter four. First of all, this paper makes an evaluation on our current public institution accounting standards, and then based on the foregoing analysis, tentatively proposed an initial plan to build a set of our public institution accounting standards.