Research On R&D Accounting Of China

With the fast development of the economy, technology and innovation are constantly transforming the way of social production activities. As the core of the Science and technology innovation, R&D is becoming the internal driving power to promote social progress and economic growth in our country, analysis and accounting of for R&D spending of itself scale also reflects the strength of a country’s initiative innovation ability. R&D was first proposed in SNA 1993 and is included in the balance sheet of intangible non-produced assets because of itself pertain to a portion of the patent. However, national economy accounting system 1993 can not well meet the needs of economic development because of many drawbacks appearing with the emergence of new economic characteristics. In this case, Five ministries of the United Nations revised and improved SNA1993 and adopted the latest version of the System of National Accounts (SNA2008) in the 40th session of the United Nations Statistics held in February 2009. The latest version of the national economic accounting system (the SNA2008) not only admits the investment property of R&D activities, but also makes the R&D outputs be formed as a capital part of the assets and contained into the GDP macro-economic index. These changes will have a significant impact on the reforming and improving of the global national economy accounting system.SNA system is adopted in our country since the 1990s, which has played an significant role on the management of macro-economic with the practice of national economy accounts in this years, but it still exists many problems. The enact of SNA2008 is bound to providing more references and recommendations to solve problems still existing of our national accounting system accounting system. When national accounting system is revised and improved, the following issues need to be considered:for example, how to accounted for R&D expenditure, how to bring in expenses into fixed capital formation, what kind of impact their capitalization accounts will generate macroeconomic indicators, which problems will be faced in the accounting and how to solve. Given the current domestic research not yet matured in this area, the author will further discusses and summarizes R&D expenditure according to available information combining R&D expenditure accounting with SNA2008 and have a depth analysis of the problem of R&D in the actual accounting process faced by our country, then put forward some solution strategy, on this basis, it also has a outlook on amendments to the current direction of the national economy accounting system of R&D. The paper is organized as follows.The first section of this paper introduces related concept definitions and classifications of R&D and has a comparative analysis with the versions R&D SNA2008 and SNA 1993, which bring us some preliminary understanding of accounting theory and R&D activities connotation, on this basis it explores R&D capitalization accounting will have a impact on a series of macroeconomic indicators of GDP and fixed capital formation accounting.Secondly through the study of problems of R&D expenditures accounting and SNA2008, the current problems in our R&D expenditures accounting faced mainly are that basic data is not enough, the relevant accounting method is not perfect and asset value is difficult to directly estimate due to the special nature of the R&D activity itself and so on. to solve these problems, this paper also proposes a number of observations and recommendations. For example, the use of "China Statistical Yearbook" and "China Statistical Yearbook of Science and Technology" in the R&D expenditure data and the problem that how to determine the inventory method of accounting model required parameters (Depreciation Rate, Price Indices, Expenditure, Capital Stock) is analyzed.Finally, it prospects direction of the System of Nation Accounts, it raised that classification of existing assets will be refined progressively, the implementation sequence will be determined according to different categories of Intellectual Property products, R&D Satellite Account need to be built actively (First incorporated R&D expenses capitalized into the existing national economic accounting system, whereas for other categories, the appropriate delay), We should strengthen the R&D expenditures accounting research of related theories and methods and expedite the development of a series of improvements direction of China’s statistical survey system and so on.The innovation of this paper lies in that it compares and analyzes R&D expenditure accounting theory with SNA1993 and SNA2008, and proposes a solution to the problems of our R&D accounting combining the difference of our existing accounting system SNA2008 with R&D spending and accounting, according to relevant standards SNA2008, then it presented the direction improved of our national economic accounting system, however, due to the limitations of individual research level, this article still need to be perfected to a certain extent, because I have not knew our national statistical survey system comprehensively, there are some deficiencies in the text of the proposed theories and solutions still yet to perfect, when solutions strategy was proposed for the problem in our R&D capitalization accounting.