Study On Accounting Standard Setting Of China

In order to adapt to the development of socialist market economy and the construction ofcapital market, our country is actively promoting the reform of the accounting system andaccounting standard. Especially in recent years, in order to comply with the development trend ofeconomic globalization and deal with the global financial crisis, we have become more active in theinternational political and economic affairs. The accounting reform has also shown increasinglyopen, ahead of the international situation. We are playing a more and more important role in theinternational accounting standard setting.However, what we have done in accounting standardsetting is far not as influential as the internationalization of our accounting standard.Exogenoussystem in a certain extent can save the cost of criterion formulation, but will increase the cost ofamendments or changes. With the development and change rapidly of market economy, the newdeals and matters appear constantly, thus the formulation of accounting standard is still a long wayto go. It is worth to study that how can we take roundabout way less in the norm-setting andformulate better accounting standard suitable for the rapid development of our economy.First of all, this paper takes a vertical comb about the evolution of the accounting standard ofChina and America, which is trying to find the path of accounting standard: on one hand, theevolution of accounting standard is based on the economic development; on the other hand,accounting theory plays an important guiding role on the setting of accounting standard. Besides,through the study on the background and characteristics of high-quality accounting standard,combined with the construction measures for this of America, the paper get some valuablereferences for the accounting standard setting of our country.Secondly, through an brief comb about theory of accounting standard setting, this paper get aclear choroid about the factors of accounting standard setting. In this section of the game ofstandard setting, the paper undertakes some cases to analyze how the participants influence thesetting of accounting standard.Thirdly, on the basis of the theory about the formulation of accounting standard, this articlecarries on the crosswise contrast about the factors influencing accounting standard setting,such asthe body, basis, procedure, the game of standard setting of China and America, then draw severalrelevant conclusions about our realistic choice and the direction of improvement in these factors.Finally, combined with the situation in new period that our accounting standard have continuedto international convergence of accounting standard and the trend of high-quality accountingstandard setting, the paper prospects the future of accounting standard setting.