On China's Budget Accounting Reform Adapting To Public Finance System

To construct the Public Finance System is the goal of financial administration and reform at present and in the future in China. This paper probes into the ways of how to construct a budget accounting system adapting to public financial system, aiming to reach the goal of budget accounting system reform. This paper consists of four parts. In Chapter One, it discusses the relationship between Public Finance and budget accounting. In Chapter Two, it analyzes the impact of Public Finance constructing on present budget accounting, especially that of the departmental budget reform, Government Procurement System, and Treasury Single Account. In Chapter Three, it makes a comparison between China's budget accounting system and the international accounting system for reference. In Chapter Four, it provides suggestions to construct a Budget Accounting System adapting to the Public Financial System, which include redefining Budget Accounting system, resetting goal of Budget Accounting system, making Modified Accrual Basis as the basis of accounting, reforming the budgetary accounting, standardizing Government financial reports, establishing accounting standards as soon as possible.