Social Sciences in China (Chinese Edition)

No.6, 2013

On the Global Reforms of the Accounting System

(Abstract)

Guo Daoyang

This study is based on Marx’s understanding of the nature of economic globalization, and aims to underline the importance of handling properly the distribution of interests among different sovereign states in the “north-south contradiction.” It would be a new research perspective for us to discuss the existing problems with the guideline of enforced “convergence” proposed by IASB for the global accounting system reforms. The basic guideline for the global accounting system reforms should be harmonization, and the basic scope of global accounting standards should comprise three dimensions: consistency, convergence and harmonization. These dimensions should be promoted one after another, so that a global system of accounting standards can be set up for now.