The Research On International Convergence Of The Conceptual Framework Of Financial Accounting

The convergence of accounting standards advances the convergence of the conceptual framework of financial accounting which is the theory base of accounting standards. The joint project of conceptual framework conducted by the Financial Accounting Standards Committee and the International Accounting Standards Board greatly advances the convergence of the conceptual framework. The subject this paper studies are the convergence of the conceptual framework and its revelation. The ministry of financial of our country issues new accounting standards, including"enterprise accounting standards—basic standard"which is considered as the conceptual framework of financial accounting of our country. The"enterprise accounting standards—basic standard"is simple in measurement, it doesn't embody fair value idea, and it can't conduct to make particular standards. It's far from the genuine conceptual framework. So, we should make our conceptual framework as soon as possible. Further more, the new accounting standards embody converging to the international conceptual framework. Thus, we should consider converge our new conceptual framework to the international conceptual frameworks. This paper is helpful for us holding the international developing trend of the conceptual framework, holding the trend of accounting international harmony and convergence on conceptual basic, and making our conceptual framework and accounting standards very well. This paper is useful in realistic sense and theory sense. It can be the basic of subsequent research.This paper has four parts. Part ? introduces its research background, the research meaning and relevant literature summarization. This part points out the main shortcoming of the current conceptual frameworks. PartⅡcompares the main current conceptual frameworks, It points out that the current conceptual frameworks is trending to convergence. PartⅢpoints out that the convergence trend of the current conceptual frameworks is trying to embody fair value idea and perfect measurement concept, grounding on the analysis of PartⅡ, combining the latest international research. PartⅣdiscusses the implication of the convergence of the conceptual frameworks. This part makes some constructive suggestions for making our conceptual framework. It suggests that we should nearly pay attention to the international research progress, and also consider embodying fair value idea and convergence to the international. The innovation of this paper lies in that it concludes that the international convergence of the conceptual frameworks is necessary, and it's trying to embody the idea of fair value on the base of analyzing comparatively the current international conceptual frameworks and nearly relating to the latest international research production. Thus, this paper suggests that we should nearly pay attention to the latest international research progress, and embody the idea of fair value and make it convergent to the international.