The Principal Differences Impact On The Financial Statements Of Profit And Loss

How to make a bridge to international capital market for Chinese enterprises has become a century task for all Chinese economists and accounting theorists since China entered WTO. My thesis has been written for this magnificent goal. In the first part of my thesis, I analysis the related articles and monographs, and expound the significance of my thesis both for theory and practice. As follows, my thesis goes on the logic that the difference of establishment model of accounting standards is decided by the difference of accounting circumstance, the difference of the content of accounting standards is the embodiment of the difference of establishment model of accounting standards, the profit and loss of financial statements is affected by the difference of the content of the accounting standards. In the second part of the thesis, I analysis the reasons and backgrounds for the difference of accounting standards as a whole, comparing the different circumstance and accounting model among the three kind of accounting standards. In the third part of the thesis, I lay stress on the different regulation on 29 transactions related to inventory, fixed assets, investment, intangible assets, borrowing expense, restructuring of debt, nonmonetary transaction and the different affect to profit and loss of international financial statements. In the fourth part of my thesis, I take the profit and loss financial statements of the year 2001 of China Petroleum and Chemical Corporation as example to expound and analysis the difference between Chinese GAAP and IASs, and the impact of these differences to the profit and loss financial statement. In the conclusion part, I generalize my opinion from the research and writing of this thesis.