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The Optimization Method of Financial Statements Based on

Accounting Management Theory

ABSTRACT

This paper develops an approach to enhance the reliability and usefulness of

financial statements. International Financial Reporting Standards (IFRS) was

fundamentally flawed by fair value accounting and asset-impairment accounting.

According to legal theory and accounting theory, accounting data must have legal

evidence as its source document. The conventional “mixed attribute” accounting

system should be replaced by a “segregated” system with historical cost and fair value

being kept strictly apart in financial statements. The proposed optimizing method will

significantly enhance the reliability and usefulness of financial statements.

I.INTRODUCTION

Based on international-accounting-convergence approach, the Ministry of Finance

issued the Enterprise Accounting Standards in 2006 taking the International Financial

Reporting Standards (hereinafter referred to as “the International Standards”) for

reference. The Enterprise Accounting Standards carries out fair value accounting

successfully, and spreads the sense that accounting should reflect market value

objectively. The objective of accounting reformation following-up is to establish the

accounting theory and methodology which not only use international advanced theory

for reference, but also accord with the needs of China's socialist market economy

construction. On the basis of a thorough evaluation of the achievements and

limitations of International Standards, this paper puts forward a stand that to deepen

accounting reformation and enhance the stability of accounting regulations.

II. OPTIMIZATION OF FINANCIAL STATEMENTS SYSTEM: PARALLELING

LISTING OF LEGAL FACTS AND FINANCIAL EXPECTATION

As an important management activity, accounting should make use of information

systems based on classified statistics, and serve for both micro-economic management

and macro-economic regulation at the same time. Optimization of financial statements

system should try to take all aspects of the demands of the financial statements in both

macro and micro level into account.

Why do companies need to prepare financial statements? Whose demands should

be considered while preparing financial statements? Those questions are basic issues

we should consider on the optimization of financial statements. From the perspective

of "public interests", reliability and legal evidence are required as qualitative

characters, which is the origin of the traditional "historical cost accounting". From the

perspective of "private interest", security investors and financial regulatory authorities hope that financial statements reflect changes of market prices timely recording

"objective" market conditions. This is the origin of "fair value accounting". Whether

one set of financial statements can be compatible with these two different views and

balance the public interest and private interest? To solve this problem, we design a

new balance sheet and an income statement.

From 1992 to 2006, a lot of new ideas and new perspectives are introduced into

China's accounting practices from international accounting standards in a gradual

manner during the accounting reform in China. These ideas and perspectives enriched

the understanding of the financial statements in China. These achievements deserve

our full assessment and should be fully affirmed. However, academia and

standard-setters are also aware that International Standards are still in the process of

developing .The purpose of proposing new formats of financial statements in this

paper is to push forward the accounting reform into a deeper level on the basis of

international convergence.

III. THE PRACTICABILITY OF IMPROVING THE FINANCIAL STATEMENTS

SYSTEM

Whether the financial statements are able to maintain their stability? It is necessary

to mobilize the initiatives of both supply-side and demand-side at the same time. We

should consider whether financial statements could meet the demands of the

macro-economic regulation and business administration, and whether they are popular

with millions of accountants. Accountants are responsible for preparing financial

statements and auditors are responsible for auditing. They will benefit from the

implementation of the new financial statements.

Firstly, for the accountants, under the isolated design of historical cost accounting

and fair value accounting, their daily accounting practice is greatly simplified.

Accounting process will not need assets impairment and fair value any longer.

Accounting books will not record impairment and appreciation of assets any longer,

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会计准则外文文献翻译-财务会计专业

会计准则外文文献翻译-财务会计专业

会计准那么外文文献及翻译-财务会计专业

(含：英文原文及中文译文)

文献出处：Buschhüter M, Striegel A. IAS 37 – Provisions, Contingent

Liabilities and Contingent Assets[M]// Kommentar Internationale

Rechnungslegung IFRS. Gabler, 2021:955-974.

英文原文

Accounting Standard (AS) 37

Contingent Liabilities and Contingent Assets

Buschhüter M, Striegel A

This International Accounting Standard was approved by the IASC Board

in July 1998 and became effective for financial statements covering

periods beginning on or after 1 July 1999.

Introduction

1. IAS 37 prescribes the accounting and disclosure for all provisions,

contingent liabilities and contingent assets, except:

(a) those resulting from financial instruments that are carried at fair value;

(b) those resulting from executory contracts, except where the contract is

onerous. Executory contracts are contracts under which neither party has

会计英文文献及翻译

会计英文文献及翻译

IMPLEMENTING ENVIRONMENTAL COST

ACCOUNTING IN SMALL AND MEDIUM-SIZED

COMPANIES

1．ENVIRONMENTAL COST ACCOUNTING IN SMES

Since its inception some 30 years ago, Environmental Cost Accounting (ECA)

has reached a stage of development where individual ECA systems are

separated from the core accounting system based an assessment of

environmental costs with (see Fichter et al., 1997, Letmathe and Wagner ,

2002).

As environmental costs are commonly assessed as overhead costs, neither

the older concepts of full costs accounting nor the relatively recent one

of direct costing appear to represent an appropriate basis for the

implementation of ECA. Similar to developments in conventional accounting,

the theoretical and conceptual sphere of ECA has focused on process-based

accounting since the 1990s (see Hallay and Pfriem, 1992, Fischer and

会计实习报告参考文献英文

会计实习报告参考文献英文

会计实习报告参考文献英文

References for Accounting Internship Report.

As I embarked on my accounting internship, I understood

the importance of referencing reliable sources to support

my learning and practical experiences. The following is a

comprehensive list of references that guided me throughout

my internship, enhancing my understanding of accounting

principles and practices.

1. "Accounting Basics for Beginners" by John A. Smith:

This book provides a solid foundation for understanding the

fundamental concepts of accounting. It covers areas such as

debit and credit, balance sheets, income statements, and

cash flow statements, making it an invaluable resource for

interns like me.

2. "Practical Guide to Accounting Internships" by Emily

Johnson: This guide offers practical advice on navigating

an accounting internship, from the initial application process to the day-to-day responsibilities and learning

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Accounting Management Theory

ABSTRACT

This paper develops an approach to enhance the reliability and usef uln ess of finan cial

stateme nts. I nternatio nal Finan cial Report ing

Sta ndards (IFRS) was fun dame ntally flawed by fair value acco un ti ng and asset-impairme nt acco un ti ng. Accordi ng to legal theory and acco unting theory, accounting

data must have legal evidenee as its source document. The conventional “ mixed

attribute ” accounting system should be replaced

by a “segregated ” system with historical cost and fair value being kept strictly apart in

finan cial stateme nts. The proposed optimiz ing method will sig nifica ntly enhance the

reliability and usef uln ess of finan cial stateme nts.

I. . INTRODUCTION

Based on intern ati on al-acco untin g-c on verge nee approach, the Mi nistry