Diversification Of Property Rights Under The Governance Model Of Accounting Research

Accounting is an artificial information system filled with choices andjudgments in information receiving, processing and transmission processwhich must affect the quality of accounting information. According to theprinciples of property-right economics, the impact of an improvement ofproperty-right system is much larger than any measurement procedure ormethod improvement. Rational economic behavior should be based on therational allocation of the property-right system. Besides technical methods ofaccounting measurement procedures, more importance is to establish areasonable allocation of property-right mechanism with the correspondingaccounting system.Starting from some basic property-right economics' concepts withaccounting interpretation, this article constitutes an approximate frameworkof property-right accounting including of accounting objectives, principles(information quality), objects and functions. It also introduces thedevelopment of property-right accounting theory and a newly arisenproperty-right theory called Social Responsibility Accounting. At last, thisarticle recommends setting up a multi-supervised management mode withappropriate concentrated property rights, and gives some advice on the futurereformation of accounting system.In brief, it can't be denied that there is strong interdependence andmutual promotion between property ownership system and accounting system.Giving sufficient control returns, establishing a sound system for informationdisclosure and a corresponding law & accounting system to protect theproperty integrity is the way to build a perfect accounting system for propertyrights.