Study on the Reform of the Current Financial Report System of China | Zendy

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Study on the Reform of the Current Financial Report System of China

Author(s) -

Xiling Dai

Publication year - 2010

Publication title -

international journal of economics and finance

Language(s) - English

Resource type - Journals

eISSN - 1916-9728

pISSN - 1916-971X

DOI - 10.5539/ijef.v2n1p115

Subject(s) - scope (computer science) , china , reliability (semiconductor) , finance , business , accounting information system , accounting management , current (fluid) , accounting , computer science , political science , engineering , power (physics) , physics , electrical engineering , quantum mechanics , law , programming language

In the times of knowledge economy, the financial environment of enterprises has changed largely, so the current financial report system of China has not satisfied the accounting information users’ demand for the financial report. Three deficiencies existing in the current financial report system are analyzed in this article, i.e. lacking in the relativity, lacking in the timeliness, and lacking in the reliability. And corresponding reform directions have been proposed, such as using multiple measurement bases simultaneously, extending the scope of financial information disclosure and ensuring the information relativity, establishing the real time reporting system and ensuring the timeliness of information, and reducing the colors of the financial report and ensuring the reliability of information.

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