A + H Shares Listed Company Accounting Standard For Business Enterprises Continued Convergence Study

China accounting standards have achieved formal convergence with international accounting standards since2006, because accounting standards of business enterprises in China have been implemented since January1,2007. So far, the enterprises accounting standards have been carried out for more than five years. What’s more, China’s Ministry of Finance issued "the continuing convergence roadmap of China accounting standards with international accounting standards" in2010, and showed our determination to continue convergence with IAS. However, IASB modified IFRS again in2011and brought new challenges and difficulties to CAS and its continuing convergence with IAS. At this time, more and more investors and other users of accounting information began to care about the effect of enterprises accounting standards in China’s accounting practice, they also wanted to know if the continuing convergence of CAS had really improve the quality of accounting information and more conducive to investors decision-making.This paper rearch the effect of CAS and its continuing convergence with IAS on the the basis of sorting out the relevant literature, combining with the CAS convergence process and status quo with IAS, and summaring the previous research results and experience. In this paper, I take China’s Shanghai and Shenzhen AH-shares listed companies for example, use comparative analysis, singnificant test, regression analysis and other methods, and analyse the financial information and its differences of AH-shares listed companies from2007to2010, which have to disclosed two financial reports according to IAS and CAS each year. Meanwhile, I found some problems on the process of CAS continuing convergence with IAS by the empirical research, including lacking of international influence, lacking of execution, and so on. According to these problems, I also have some suggestions and solutions.According to the research, we found that the continuing convergence with IAS is effective, the differences between CAS and IAS are decreasing, the quality of accounting information is also gradually improving, and the value relevance of accounting information is increasing too. But there are also many problems during the continuing convergence with IAS, it need a quite long and difficult time if we want to achieve the convergence with IAS in the true sense.