A Study On International Convergence Of Laos Accounting Standards

After the restructuring of the International Accounting Standards Board, the development of accounting standards has been the transition from international coordination to the international convergence phase. International convergence of accounting standards at home and abroad to discuss the accounting profession in recent years, more an issue. With the acceleration of economic globalization and the growing international capital markets, international convergence of accounting standards is a general trend, countries in the world to become an unavoidable reality, countries are gradually added to the ranks of the advance international convergence of accounting standards. Laos to develop the economy, it must be integrated into the international economic trend, we must face up to international convergence of accounting standards. Therefore, also accelerated the pace of Laos, and has achieved great results - issued new guidelines for convergence with International Financial Reporting Standards, which is the process of international convergence of accounting standards Laos has important theoretical and practical significance.From the definition of international convergence of accounting standards related to the concept paper expounds the international convergence of accounting standards Laos necessity and feasibility, analysts pointed out that the difference between Laos Accounting Standards and International Financial Reporting Standards. And analyzes the plight and international convergence of accounting standards Laos factors faced, on the basis of positions and strategies proposed process of international convergence of accounting standards Laos should be followed. This paper argues that Laos convergence of accounting standards is a gradual process, in the case of trade-offs should be fully integrated Laos conditions, actively and steadily promote international convergence of accounting standards Laos. In addition, from the perspective of stability, to try to consider the actual situation in Laos, according to the political, economic, legal system reform trends in Laos, especially the level of development of market economy and global economic integration process, and constantly revised and improved accounting Laos guidelines. From a development perspective, Laos to further accelerate convergence with the International Financial Reporting Standards pace.