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Web of Proceedings - Francis Academic Press

A Comparative Study of Chinese and Western Accounting Standards Analysis Based on Development History and Development Environment

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DOI: 10.25236/icebfm.2019.119

Author(s)

Xin Liu

Corresponding Author

Xin Liu

Abstract

As an international business language, accounting plays an extremely important role in realizing economic development, boosting international trade and investment, and promoting government operations. With the development of economic globalization, the issue of accounting internationalization has become a forward-looking and realistic issue for accounting professions around the world and in China. High-quality accounting standards are the basic premise for ensuring the quality of accounting information. The development of high-quality accounting standards is the focus of the work of national accounting standards-setting bodies and International Accounting Standards Board, and it is also an urgent problem to be solved. At present, China’s accounting standards are still facing many practical problems, and there are many differences compared with the western countries’ accounting standards. On the basis of comparing the differences between Chinese and western accounting standards, the existing problems of Chinese accounting standards was pointed out, and corresponding solutions and future development direction were put forward, so as to better provide institutional support for the development of China’s accounting industry and enterprises.

Keywords

Accounting standards, Chinese and western comparative study, Suggestions