The Comparative Research On Non-monetary Transaction Standard

As the fast development of China's goods-exchanging trade, Ministry of Finance of China set down and released Business Accounting Standard for Non-monetary Transaction in 1999 in order to regulate the corporation especially the listed company's accounting treatment. But just one year later, this original edition was emended in 2001; because of the use of old accounting standards for Non-monetary Transaction had caused many questions in reality. The revised edition of Non-monetary Transactions guideline has changed the calculation criterion of non-monetary transaction, abolished the classification of non-monetary assets and the division of two non-monetary transactions, and reduced the utilization of the fair value, meanwhile use book value instead. The revised edition played an active role in standardizing accounting check and safeguarding enterprise to operate accounting profit trough non-monetary transaction. However, as the time goes by, the existing problems are obvious. Five years later, Ministry of Finance of China edited the Non-monetary Business Standard again and promulgated a new edition of Non-monetary Transaction Standard in 2006. The new Non-monetary Transaction Standard use America, International Accounting Standard Board for reference, bring in an important concept "commercial essence" and resume the use of fair value. The new Non-monetary Transaction Standard not only learned about the related accounting regulations from the conventions of international accounting, but also learned about the experience we went though before. In considering of the situation of our own country and in order to make sure the new Non-monetary Transaction Standard can work well, it withhold the utilization of book value when it is not suitable to use fair value. Although the new Non-monetary Transaction Standard has its advantage, it has some problems still.This paper not only compared the three different Non-monetary Transaction Standard which were issued by Ministry of Finance of China in different time systematically, but also compared the Non-monetary transaction standard between China and America, Canada and IASB detailed. Through comparing the Accounting Standard for Non-monetary Transaction both in and out of China, we try to find out their differences and locate the problems and flaws lying in the Accounting Standard for Non-monetary Transaction of China, finally give some advices and solutions to these problems to perfect the Non-monetary Transaction Standard. At the base of the analysis of the single Non-monetary Transaction Standard and the experience in framing and editing the Non-monetary Transaction Standard we can learn something in how to working out a accounting standard system as a whole from it and bring forward the new point, that is, if the accounting standard system take anti manipulate profits as its objective, usually, it can not work well as our expectation. The accounting standard system's goal should be perfect its own Conceptual Framework and also the accomplishment of the integration between our accounting principles and IAS' under the consummate of the accounting environment continually.