Economic Research On Chinese Accounting System

â… In this paper, a systematic research is given on the Chinese accounting system from the perspective of economics. When the China's accounting system is investigated from the perspective of economics, the relations between economics and accounting should be regarded as the logic starting point. The economics mentioned here includes the Marxist economics and the Western economics. The Marxist economics studies not only the basic social economic systems, especially the capitalist economic system and the socialist economic system but also the concrete economic systems and the economic development and operation. The Western economics gives a systematic explanation of the concrete capitalist economic system and the economic development and operation. The analyses of the concrete social economic systems and the economic development and operation made in both the Marxist economics and the Western economics are the theoretical basis for the research on accounting. The Marxist theories on commodities and money are the basis for realizing the nature of accounting. In the conditions of market economy, the nature of accounting refers to the dynamic process of recording the calculation of money, determining and controlling the capital value of enterprises. The Marxist capital recycling theory shows that the operating achievements of enterprises, especially the cash net inflow and the financial conditions can be measured by accounting. The Marxist theory on fixed capital loss is the basis for calculating the depreciation charge in accounting. The Marxist theory on cost price is the criterion for determining the range of cost expenditure in economics. In the Western countries, a group of economic researchers who have accepted studies of economics and obtained the PhDs have participated in the research on the accounting theories and adopted the standard deductive methods to introduce some core concepts of economics and make them concrete, thus presenting a complete accounting theoretical framework and having many important effects on guiding or directing accounting practice Since 1920s . Since 1940s and 1950s, the studies of economics have been gradually developed into quantification and experience, forming the positive economics. With this influence, the trend of positive research on accounting also happened in 1960s and 1970s. By the middle of 1980s, a set of complete positive accounting theories have been established. With the further deepening of the reform and opening up to the outside world, some accounting doctors and masters trained in our country have begun to apply the new Western economic theories to explain the accounting phenomena, thus expanding the thoughts and visual field of the research on accounting of China, richening and improving the human knowledge of the accounting problems, which are the resource conditions for the accounting of China opened to the world. â…¡ The evolution of the economic system of our country is as follows: from the planned economic system to the planned commodity economic system and then to the modern market economic system. In the planned economic system,the relevant accounting system was established, which can be called the accounting system of the planned economy. In the planned commodity economic system, the relevant established accounting system can be called the one of the planned commodity economy. In the modern market economic system, the relevant established accounting system can be called the one of the modern market economy. Therefore, the evolution of the accounting system of our country is as follows: from the accounting system of the planned economy to the one of the planned commodity economy and then to the one of the modern market economy. The process of establishing the accounting system of the planned economy can be concluded in the following. The uniform accounting system in the departments is established, which marks the beginning of the accounting system of the planned economy. The uniform accounting system in the whole country is established, which marks the preliminary formation of the accounting system of the planned economy. The abundance of uniform accounting system in the whole country marks the basic determination of the accounting system of the planned economy. The accounting system of the planned commodity economy is the transition from the one of the planned economy to the one of the modern market economy. In the transitional accounting system, not only the content of the accounting system of the planned economy but also the content of the one of the market economy exist, with the contents of both systems penetrating each other. Since 1992, our country has been in the period of establishing the socialist market economic system. During the process of establishing the preliminary socialist market economic system, in order to meet the demand of the accounting information of the government for the adjustment and management of the national economy, standardize and direct the accounting behavior of enterprises and maintain the rights and benefits of investors, creditors and other intereststakers as well as assure the orderly operation of the social economy, the Ministry of Finance has promulgated the Specific Accounting Standards one after another after promulgating Accounting Standards for Business Enterprises and preliminarily established the basic framework of accounting standards for enterprises on the one hand; the accounting system of enterprises is reestablished, the accounting methods of enterprises are gradually perfected and the complete accounting system of enterprises is established, thus preliminarily establishing the accounting system adaptable to the socialist economic system. â…¢ In the conditions of the modern joint-stock enterprises, there exist various mutually distinguished and connected subjects of ownership, that is, investors, creditors and the management level and relevant governmental departments because of the separation of property right from the right of management as well as the separation of the governmental management from the management of enterprises. The economic and interest relations among all the subjects of property right constitute the property right system of the modern enterprises, which requires the relevant modern accounting system. Viewed from the relations between the property right and accounting, the accounting standards are the ones that should be followed in recognizing, calculating and recording as well as reporting the value movement of the property right and its represented economic relations of the property right. The evolution of the property right system is fundamental dynamics for establishing the accounting standards. The decreasing of the trading expense is the necessary condition for establishing the accounting standards. The game of the subjects of the property right is the direct reason for establishing theaccounting standards. The process of occurrence and perfection of the accounting standards is the one of the game of the subjects of the property right and also the one of the various subjects of the property right competing for economic interests. The accounting standards for enterprises established and carried out in our country represent the relations of property right of enterprises, protect the rights and benefits of the owners and safeguard the interests of other subjects of the property right. With the continuous perfection and development of the accounting standards for enterprises in our country, the property right system of modern enterprises will be better reflected and maintained. â…£ In 1999, the Decisions on Important Problems of the Reform and Development of State-owned Enterprises of the Central Committee of the Communist Party of China (CPC) was promulgated in the 4th plenary of the 15th National Congress of the CPC, which marks that the governance structure of the legal person has been preliminarily established in the joint-stock enterprises of our countries, especially the companies listed in the market. The corporate governance is a topic with rich content and involving a wide range of aspects. In the paper, the research is given from the perspectives of the corporate governance mode and determination of position of the accounting objectives. the starting point lies in the study of the corporate governance mode , which can identify the main parties demanding the accounting information and rationally determine the accounting objectives. The accounting plays an important role in the corporate governance. The different corporate governance modes determine the big differences of the roles that the accounting plays in the corporate governance. The differences are mainlyrepresented in the different accounting objectives. The European and US outside supervision corporate governance mode determines its relevant accounting objectives of usefulness of decision-making. The Japanese and German inside supervision corporate governance mode determines its relevant accounting objectives of entrusted responsibility. In the companies listed in the market with the state-owned funds controlling stock in our country, the state-owned shares cover a large proportion and the state-owned shares plays the dominant roles, which determines that the state-owned stock control companies listed in the market in our country should use the Japanese and German experience of corporate governance and adopt the inside supervision corporate governance mode as well as relevant determine the accounting objectives of entrusted responsibility. Of course, the outside supervision corporate governance should also be fostered, the role of the outside supervision corporate governance should be given a play, the system of throwing daylight on the accounting information should be perfected and the roles of the accounting information in the decision-making of the external investors should be given a play.