Research On The Reform Of Governmental Financial Report In Our Country

As the final “production” of the Governmental Accounting, Governmental financialreport is the valid certificate for the government to relieve its public accountability and it isalso the important basis for information users to make economic and social decisions. Ourcountry’s current governmental financial report system comes from the reform of thebudget accounting system in1997. In recent years, on the basis of the previous systems, werefine and improve the accounting system of the administrative units and public institutions.Currently, the governmental units’ financial reports are mainly composed according to theaccounting system of general budget implemented in early1998, the new accountingsystem and standard of public institutions executed in early2013and the accountingsystem of administrative units complied in the beginning of the year. However, thegovernmental financial report and the governmental units’ financial reports are concepts oftwo different levels. Our country’s current governmental financial report is just the reportof the budget implementation which mainly reflects the implementation and results of thebudget revenue and expenditure but neglects the information reflecting the activities ofgovernment financial balance and financial status. As the deepening of financialmanagement reform in our country, the shortcomings of the existing government financialreporting model are increasingly apparent. It can not fully meet the information needs ofthe users, and thus can not meet the requirements for the Government to fulfill its publicaccountability. Therefore, the reform of governmental financial report is extremely urgent.However, the study of the theory of government financial reporting reforms is still in itsinfancy. There are many areas that need improvement, and the relevant governmentalaccounting and financial reporting standards is promulgated slowly.Therefore, this article intends to start from the status quo and the existing problems ofour country’s governmental financial report, learn from the successful experience ofgovernment financial reporting reforms in abroad, and then refine and improve our current governmental financial report both from the theoretical and practical aspects. In thetheoretical aspect, this article will focus on the objectives and the entity of financialreporting, as well as the main basis of accounting and other related issues. In the practicalaspect, this article will reference the structure and content of the government financialreporting system in developed countries. Combined with our current budget accountingreporting model, We will explore to establish the government financial reporting systemwith Chinese characteristics and international comparability.