Research On The International Convergence Of Consolidated Financial Statement:Evolution And Route

Since2005, with the drastic reform, China’s Enterprise Accounting Standard has positively implemented the Principle in line with International Financial Reporting Standards, which has made tremendous achievement and gained high appreciation of the international community. In its convergent process, we insist on "convergence in process" rather than "using directly". In recent years, according to their own State Situation, world’s main countries and districts are considering the International Convergence. On the one hand, after the finance crisis in2008, International Accounting Standards Board (IASB) exerts the pressure of international convergence on to main countries and districts, including China; On the other hand, May2011America proposes "Approval of International Convergence" to delay convergence. The international environment of Accounting Standards’Convergence is extremely complicated.2011, International Accounting Standards Board (IASB) publish IFRS10, which replaces all the Standards and guidelines about Control and Combination in IAS27and SIC-12. The significant variation of IFRS10is only considering the control rather than the investee to judge combination. Based on this background, the dissertation has probed into consolidation theory, consolidation scope and combination method of consolidated financial statements. And this paper summarizes history and convergence’s standpoint of accounting standard on consolidated financial statements of China, world’s main countries and districts, and put forward two convergence models which are "convergence in process" and "using directly". Because of the similar accounting model, deeply involving in the international trade, the low cost of conversion and the high cost of setting standards, the founding of IASB and the "golden" small states should take the way of "using directly". Because of considering nations’ interests, lacking the environment of the right political and economic system, China, America and Russia should take the way of "convergence in process"Instead of working only on one side, different nations should consider each other’s accounting standard. All the sides should take part in setting up IFRS to make it meet their nations’interests and conditions. IASB should allow each nation to take their own way gradually to in line with IFRS, to get finally goals of enhancing the comparability of consolidated financial statement, promoting capital’s global flowing, stabling the global financial market and emerging economies into the global financial system.