Non-monetary Transactions Accounting Research

Non-monetary transaction is not a new phenomenon at present. From starting with the spring up of barters on border to entering into 1990s, with the development of securities business in China, non-monetary transaction, including assets permutation and stock exchange, has become more and more frequently. These transactions, one the one hand, provided new approaches for enterprises to develop, manufacture, operate and expedite the turnover of their funds, but at the same time, they have lead to some problems, such as some companies make use of non-monetary transaction to manipulate their profits, which brought big wallop to accounting practice. So, it has become an urgent issue that how to regulate the accounting treatment and the disclosure of related information of non-monetary transaction. In order to adapt to the change of business operating manner and the development of securities market, Ministry of Finance of China set down and released Business Accounting Standard for Non-monetary Transaction in 1999, and emended in Jan. 2001, which has significant benefit in regulating the accounting record and the disclosure of related information with respect to business non-monetary transaction. In the world, there are very few countries and regions which have promulgated Accounting Standard for Non-monetary Transaction. They include America, Canada and International Accounting Standard Board (IASB), among which the regulation to non-monetary transaction of America is most comprehensive and specific. This text is going to find and locate the issues and flaws lying in the Accounting Standard for Non-monetary Transaction of China, and to point out some other related problems brought by business non-monetary transaction, through comparing the Accounting Standard for Non-monetary Transaction between China and America, Canada and IASB. The objective of this text is to put forward corresponding improvement suggestion and solutions to some related problems.This text totally included four parts as follows:Part 1 introduced roughly the non-monetary transaction; Part 2 made a comparison of the accounting standards and related regulations for non-monetary transaction between China and America, Canada and IAS; Through the comparison study of the above part 2, Part 3 found out and located the issues and flaws lying in the accounting standards and related regulations for non-monetary transaction of China, pointed out some other related problems brought by business non-monetary transaction, and put forward corresponding improvement suggestions and solutions to some related problems; Part 4, the last part, is the conclusion paragraph of the text, which summarized the outcome of this text study and pointed out the shortcomings of this research.