The Study Of College Accounting System Reform

Since the Reform and Opening up, China’s higher education has gained significant progress. A higher education system with a wide-range of disciplines and diverse school operating modes has been initially formed. With the development of the socialist market economy, the improvement of the school operating system and the reinforcement of the public finance reform, the business activities that colleges are engaged in have become increasingly market-oriented and complex, which imposes more demands on the accounting and financial management of the colleges.The current "College Accounting System (trial)" was issued by the Ministry of Finance in1998. Some provisions of this system can no longer meet the requirements of the accounting in institutes of higher education. Therefore, in2009and2010, the Ministry of Finance released the first and the second exposure draft for the College Accounting System respectively, in order to solicit opinions for improvements. In this context, this paper studies the main achievements of the reform following the second exposure draft, as well as suggestions for further improvement, which undoubtedly has important theoretical and practical significance.In this paper, we firstly analyzed the reasons of the reform of China’s College Accounting System. The achievements of this reform was then summarized through a comparison with the main trend of the development of the college accounting systems world wise and the reform measures taken by other institutions. Further policy recommendations were made in the end.The significance and innovation of this paper are reflected by the policy recommendations, which include:to make the objective of financial reports clearer, to further improve the financial report system, to consolidate the internal accounting control, to consummate the system of asset value calculation, to reflect tuition and accommodation fee reasonably, to introduce the comprehensive attributes of asset value measurement, etc.