Research On Amendents To The Presentation Of Financial Instruments Standards

As the development of economic globalization, financial innovations achieve an explosive growth, especially in derivative financial instruments. The scale of financial instruments trading and foreign currency transactions grows rapidly. Besides, innovative capital instruments emerge constantly. Financial instruments accounting issues are more concerned by the growing national standard setters, preparers and users of financial statements. The claim of disclosure accounting information is increasing. Now the presentation of financial instruments can’t adapt to new financial instruments like preferred stock and sustainable debet. The standards dosen’t give pecific disclosure requirements about financial instruments’ offset and transfer, make disclosure of financial information insufficiency, not good enough to meet the needs of users of financial reports. IFRS presentation guidelines for financial instruments have revised several times. In this context the Ministry of Finance issued a "Financial Instruments Presentation (Amendment draft)" in2012and released "Financial Instruments Accounting Standards supplementary regulations (draft)" in January2014.The amendent to the presentation of financial instruments standards will promote the international convergence of accounting standards, will cause some enterprises increase of equity debt reduction, can reduce management costs and financial reporting difficulty of some enterprise, can help investors to make effective decisions, but will increase the difficulty of financial supervision and accountants’ understanding and implementation of standards. Discussed the distinction and accounting treatment of financial liabilities and equity instruments, addition to the principle of financial assets and financial liabilities offset and the requirements of table and disclosure. Proposed some suggestions for further improvement, including the interpretation of related concepts, a unified financial instruments disclosure position, further standardize the content and format of financial instruments disclosure. This paper designed part of balance sheet, cash flows statement, statement of profit, statement of changes in owner’s equity.Studying the presentation of financial instruments amendments problems helps to understand the existing regulations problems of presentation of financial instruments and make a deep understanding of the major changes in the presentation of financial instruments amendments, which enriches the presentation of financial instruments amendments in detail, improves the implementation of operational guidelines and promotes the further improvement of presentation of financial instruments standards inretern.