The Presentation Of The Reform Of China's Financial Statements

As the pr imary means of providing information about the financial posit ion, performance and cash flows in financial position of an enterprise, more and more accounting standard-setting bodies are concerned about the improvement of financial statements. Since it produces,the disclosure of financial information and the format of the report have become the controversial topics in the world. Because the financial statements of different countries are based on the different accounting standards and different accounting environment,different countries have different financial statement systems, so the financial information lacks comparability. After the outbreak of the f i nancial crisis, more and more people recognize the necessity of setting a unified high-quality global accounting standards, therefore, higher requirement on the quality of IFRS and the international convergence of accounting standards have been put forward. In the terms of financial statement presentation reform, in October 2008 the IASB and FASB issued the Discussion Paper of Preliminary Views on Financial Statement Presentation (DP). The DP is the first step towards the creation of a standard, including the change of format and content of the existing report. The international financial statement presentation reform which improves decision value began to appear.In February 2006, the Chinese Accounting Standards(CAS) were issued, realizing the convergence of IFRS. In April 2010, the Ministry of Finance issued the Convergence Road Map of Chinese Accounting Standards and International Financial Reporting Standards.The Road Map indicates that we support the establishment of high-quality global accounting standards, and it defines the international convergence of accounting standards in our basic position and timing. However,facing the significant change, whether or not to make major adjustments on Presentation of Financial Statements, accept new reporti ng model or selective convergence, is the question the paper trying to answer.According to the characters of research object, this thesis mainly adopts standardized method. This paper starts from the current situation of Chinese Financial Statement Presentation, pointing the existing problems of interior structures,disclosure of information, etc. And then it introduces the specific programs of the reform of IFRS. F i na I I y on the basis of summar i z i ng and eva I uat i ng a greatlot of relative foreign literature, it proposes corresponding improvement which is suitable for China's national conditions.