Study On The Construction Of Government Financial Accounting Standard Of Heritage Assets

The third plenary session of the Communist Party of China adopted an overall plan on the reform of sgovernment accounting and specifically stated that the comprehensive government financial report system should be established to improve the budget management on the accrual basis,and the government balance sheet should be prepared.The government balance sheet can fully reflect the assets and liabilities of the goverrnment,and is a major part of the comprehensive government financial report.Six government accounting standards including fixed assets have been issued,but quite a number of assets controlled and managed by governments still got little attention,especially heritage assets.China is an ancient oriental country with a long history and plentiful cultural heritages.Xi Jinping.General Secretary of the CPC,the State President,pointed out that,cultural heritages are the vehicles of human civilization,the bond of national spirits,and precious heritages ancestors left for us,that inherits history and culture,and nourishes the cultural and ideological progress.1,081 thousand portable heritages are verified by October 31st,2016.Such massive scales of assets are excluded from the financial reports which calls for our deep thought.In this paper,I start from the point of information needs,sum up the experience of foreign countries,and try to offer some standard advice on the heritage assets that heritage assets should be recognized according to the basic rules in historic costs in comprehensive government financial report based on the reform practice.The improvement of information disclosure of heritage assets helps government accounting entities have a clear vision of accountabilities,increase public supervision and has a profound significance on the perfection of fiscal system and modernization of national management.