The Research On The Improvement Of The Financial Reporting System Of China Based On The Comprehensive Income View

The current financial reporting system is formed under the current operatingearnings outlook, itself has many problems, including the financial reportingobjectives can not adapt to the changing environment, the problems of accountinginformation quality characteristics, the link of financial statements is not close anddisclosure content is not sufficient, etc.. The new accounting standards reflect thedecision useful view and the assets-liabilities view to accelerate the process of theapplication of comprehensive income theory in our country, recently the FinanceAccounting Standards Board has released of the Accounting Standards forEnterprises no.30-Presentation of Financial Statements, which will beimplemented on July1,2014, not only made a formal definition to thecomprehensive income, and made clear rules to the presentation of comprehensiveincome, clear requirements shown " the net amount of all items of othercomprehensive income deducting the influence of the income tax " and "totalcomprehensive income" two subjects separately in the income statement after netprofit. However guidelines did not specify which items belong to the comprehensiveincome, also does not require detailed list all items of other comprehensive incomein the income statement, just required to disclose the composition of othercomprehensive income in the notes to financial statements. To do so is beneficial tosimplify the project of the financial statements, but also led to the caliber of thedisclosure of other comprehensive income not unified, also does not favor thecomparability of financial statements. Based on the study the research findings ofcomprehensive income report of various countries, this paper expounds thetheoretical basis of the comprehensive income, and used the theory of institutionaleconomics to analyze the development of comprehensive income. On the basis ofabove research,according to the actual situation of the current economicdevelopment in our country and combining with the four major report improvement suggestions which was launched in October2008by the IASB and FASB jointproject, to construct our country reality of financial reporting system.In this paper, systematic study the system of the financial reporting combinedwith the comprehensive income outlook, reformed the three main statements in acreative way by using standard research and qualitative analysis method, avoid thelimitations of the previous study on the comprehensive income statement is limitedto the income statement and made a close relationship between the reports, and therelevance of financial information has been greatly improved, so this paper has atheoretical and practical significance.