Study On Elements Of Accounting

As long as the development of global economy, the world markets have became more and more international interconnected. That is to say, event happened in any part of this world can effect every part of this world. Nowadays, it is supposed that investor or entity seek for investing opportunities or cooperation chances on a world basis. On the other hand, the accounting theory which serves economic society is changing as the development of accounting environment. As an essential part of accounting theory, accounting elements have difference in definition and setting within and between countries due to various economic environments. Also, in2006IASB and FASB published the MoU (Memorandum of Understanding), which aims to establish a single set of high quality global accounting standards. The joint work includes several steps to investigate the definition and measurement of elements.This paper will discuss the differences of accounting elements with normative method, and it is supposed that a specific description of accounting elements will be prepared on environmental changes perspective. Firstly, this paper will respectively describe changes of accounting elements within and out of the countries. Secondly, discussion on factors will be provided on the basis of previous literature. Thirdly, some arguments and disadvantages will be analyzed under the current environment. And finally, some advices for further development will be drawn at the end of it.It is expected that the research will be helpful for the development of accounting elements, and an outlook of changes will be predicted under the background of international accounting standards convergence. Therefore, advices and suggestions could be drawn in order to maintain the sustainable development of economy in our country.