Research, Financial And Accounting System Based On Knowledge-based Economy

The development of accounting should be suited to economic circumstances. The current financial accounting (FA) system serves the industrial economy. Now, the society is striding forward to the knowledge economy age. The Knowledge economy is a brand-new economic form which is different from the previous industrial and agricultural economy. The economic circumstances in the knowledge economy have their own characteristics. Consequently, how to build a new FA system has become an important task to meet the needs of the economic circumstances peculiar to the knowledge economy society. Considering the characteristics of knowledge economy, this paper has built a new FA system adapted to the knowledge economy with the methods of normative theory study. According to contents of FA, this paper includes three parts: study on basic theories of FA, on accounting factors and on accounting statements. In chapter 1, we inquire into the challenges facing accounting basic theories including accounting functions, accounting assumptions and accounting principles generally accepted. FA factors are discussed in chapter 2 and 3, but we focus our discussion on assets including environment assets, human assets and intangible assets. Assets are important economic resources that are required in production and business of enterprises while the others are all the sources or uses of assets. So, we just briefly argue other factors in chapter 3. In the end, we build the financial statements system based on the knowledge economy. Seeing that the study on it just makes the first step in the world, I believe this paper will be of great theory significance. I write this paper on basis of referring to all kinds of views from the domestic and abroad materials and absorbing my tutor's opinions. But in view of limit of my knowledge and accounting system based on the knowledge economy is a entirely new field, it is inevitable for my paper to have some defects. Some views need exploring further. I sincerely hope to get your support and criticism.