Convergence Research Under The Differences Between Chinese Accounting Standards And International Accounting Standards

As China economic is rapidly growing and becoming more and more international,the global aircraft maintenance competition becoming increasingly fierce,the competitions in enterprises are reflecting on aircraft maintenance.LTS company attractive the attention of the world as many of our other industries.On one hand,mother company LHT need to control subsidiary's financial status of LTS due to the capital investment.On the other hand,LTS needs the skilled management method and advanced technique from Mother Company to support the growth.We need to understand different countries' finance standard due LTS be invested by LHT located in Germany.Meanwhile the mother company also want to manage LTS's finance status.(LTS located in China).There are some differences between PRC accounting standards and the IFRS,It considers LTS as well as mother company LHT,the main processes of daily business in general ledger accounting,banking,accounts payable,accounts receivable,fixed asset accounting etc.,The finance reports got from the two standards caused they are different.This Article analyses the difference between CAS&IFRS on aspect of aircraft repair industry.The structure of the article is as follows.Firstly: to analyze the difference aspects between CAS&IFRS.Secondly: to analyze the four accounting types in aircraft repair filed in details and find the influence from the variance.Finally: take the measurement of mapping chart of account list.It will be taken an actual example of LTS by end of the year 2015 to showing the difference and convergence.