Research About Accounting Information Disclosure System Of Local Governmental Contingent Liabilities

The reform of governmental accounting is a hot issue in the process of china’seconomic development. The management of local government debts, as a part of thereform of governmental accounting, has been studied in increasingly vivid detail.However, the government accounting which fails to identify、quantify、report andreveal the government contingent liabilities outside the budgetary system can notprovide the required accounting information. By looking through the related researches,we find there are few studies on the accounting information disclosure of localgovernmental contingent liabilities. Now during the special period of transiting inchina, the local governments at different levels have accumulated large quantities ofcontingent liabilities. It is time to disclose the accounting information of localgovernmental contingent liabilities for controlling fiscal risk and restricting fiscalopportunism. In such a background, this paper is to provide valuable experience for thereform of governmental accounting.Beginning with exploring the theoretical basis of the accounting informationdisclosure of local governmental contingent liabilities, the dissertation clarifies relatedconcepts, as well as the necessity of the accounting information disclosure of localgovernmental contingent liabilities. By the means of cost-benefit analysis, it analysesthe feasibility of the accounting information disclosure of local governmentalcontingent liabilities. Then, introduced on the international disclosure matureexperience, obtains to our country beneficial enlightenment. Finally, on the basis ofabove, this text establishes the system on disclosing accounting information of localgovernmental contingent liabilities from three aspects.