In The United States "consolidated Financial Statements, Guidelines Comparative Study

Consolidating financial statements is an important topic in the Chinese and Western accounting theory and the study of accounting practices. At present, there are major differences of the consolidating financial statements for the theory and practice field in different countries. This article starts from the differences analysis between the America and China for consolidating financial statements, on the comparison and analysis of the related standards, reveal the reasons for the difference, draw on foreign experience, based on our country's specific conditions, and research how to promote the development of our country's consolidating financial statements theory and practice.This article includes eight parts. The first part expresses the general situation of consolidating financial statements in the America and China, in which, focus on the significant changes between China's newly promulgated the "Accounting Standards for Business Enterprises" and the "Interim Provisions" and the relevant answers issued by the Ministry of Finance on the consolidating financial statements, include the related concepts, the scope of the merger and so on. The second part expresses the theory differences between the America and China, mainly focus on the three representative theories for the current, that is, Ownership Theory, Parent Company Theory and Economic Entity Theory. The third part expresses the differences of the scope of the merger between the America and China, in which especially focus on the special purpose entity. The fourth part expresses the method differences between the America and China, includes Purchase Method, Pooling-of- Interests Method and New—Entity Method. The fifth part expresses the differences of the foreign currency conversion between the America and China. The sixth part expresses the differences of the goodwill between the America and China. The seventh part expresses the reasons of the differences between the America and China, including the cultural background, level of economic development, the company shareholding structure and the accounting profession development. The eighth part expresses the enlightenment for our country's consolidating financial statements theory development, including the merger theory, the scope of the merger, the merger means, foreign currency conversion model and the treatment of goodwill.