会计英语论文.docx

会计英语论文.docx

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会计英语论文

Preparedon24November2020

会计英语论文

ComparisonbetweenChineseandInternationalAccountingPrinciples

Groupleader:

YIHANQIU

Teammembers:

SHAOLIANCHEN

XIAONANGUO

HUIMINMA

NINGMAO

Faculty:

SHUJINGLI

Dec20,2014

GuangdongUniversityofForeignStudies

SouthChinaBusinessCollege

Contents

Introduction...............................................................................................................2

TheScopeofInvestmentpropertyAccounting........................................................2

ModelforSubsequentMeasurement........................................................................3

HowtoDeterminetheFairValue.............................................................................3

5.

1.ExecutiveSummary

InFebruary,2006,ourcountryissuedthenewaccountingstandards,whichhasbeensuitableforthelistedcompaniessinceJanuary1,2007.Thisisamilestoneinouraccountantforum,whichwillpromotethetransitiontoamoremoderneconomicmodelinourcountry,andhelpinvestorstomaketheirdecisionswiser.Underthebackgroundofglobaleconomicintegration,accounting,asauniversalbusinesslanguageallovertheworldhasplayedanincreasinglyimportantroleonthestage.Theinternationalizationofaccountingstandardshasbecomeacontroversialissueinacademiainrecentyears.AstheinternationalaccountingstandardslargelyreflectsGAAPandhasgainedwideacceptance,wechoosetocompareChinesewithInternationalAccountingPrinciplesasastartingpoint.Throughthecomparisonofthefouraspectsofthenewaccountingstandardsandinternationalaccountingstandards,wesummarizethesimilaritiesanddifferencesbetweenthetwo,andtrytoexplorethereasonsforit.Inthelastpart,wewillofferseveralproposalswhicharehelpfultoharmonizetwostandards.

2.Introduction

Inthispaper,ourgroupchosetocompareChinawithinternationalaccountingstandardsasastartingpoint.Throughthecomparisonofthenewaccountingstandardsinfourareasoftheinternationalaccountingstandards,wewillsummarizethesimilaritiesanddifferencesbetweenthetwo.Fourpointswerechosen,theywere,thecomparisonofInvestmentProperty,assetimpairment,CapitalassetsdepreciationmethodandtheIntangibleAsset.Foreachpoint,wewillcarryoutabriefintroduction,andthenexpandspecificnarrative.

3.Maincontentofthereport

ThecomparisonofInvestmentPropertybetweenIASandCAS

3.1.1Introduction

HereisthecomparisonbetweenChineseAccountingStandard（CAS）3andInternationalAccountingStandard（IAS）40.

AccordingtotheInternationalAccountingStandard（IAS）40InvestmentPropertyandChineseAccountingStandard（CAS）3InvestmentProperty,wecancomparethedifferenceofinvestmentpropertybetweenIASandCAS.Itcanbegeneralizedinthreepoints:

thescopeofinvestmentpropertyaccounting,accountingpolicyandthedeterminationoffairvalue

3.1.2TheScopeofInvestmentPropertyAccounting

IAS40InvestmentPropertydefinesinvestmentpropertyasproperty（landofbuilding-orpartofabuilding-orboth）held（bytheownerorbythelesseeunderafinancelease）toearnrentalsorforcapitalappreciationorboth,ratherthanfor:

（a）useintheproductionorsupplyofgoodsorservicesorforadministrativepurposes;or（b）saleintheordinarycourseofbusiness.ButCAS3InvestmentPropertydefinesinvestmentpropertyreferstotherealestatesheldforgeneratingrentand/orcapitalappreciationandtheinvestmentrealestateshallbemeasuredandsoldrespectively.Itinclude（a）Therighttouseanylandwhichhasalreadybeenrented;（b）Therighttouseanylandwhichisheldandpreparedfortransferafterappreciation;and.（c）Therighttouseanybuildingwhichhasalreadybeenrented.

WecanseethatthescopeofinvestmentpropertyaccountingprescribedbyCASissmallerthanIAS.Itshowsitprincipallyintwopoints:

A.IAShasprescribedthattherealestateequitywhichmeetsthechallengeofoperationleasecanberangedintoinvestmentproperty,whileCAShasprescribedthatifthepropertyrightunderoperationleasehasbeenrentoutagain,couldnotbedeterminedininvestmentproperty.

B.IASalsoprescribedthatthelandhasnotbeendeterminedapplicationcanbeinvestmentproperty.ButinCAS,onlythelandwhichhasbeenholdandpreparetoincreaseinvaluefortransferencecanbeconfirmedtoinvestmentproperty.

3.1.3ModelforSubsequentMeasurement

InIAS,bothoffairvaluemodelsandcostofmodelcanbeselected.Oncethisalternativeisselectedforonsuchproperty,allpropertyclassifiedasinvestmentpropertyistobeaccountedforconsistentlyinonebasis.OntheprincipleofCAS,inbalancesheetdateshouldusemostmodelstofinishsubsequentmeasurement.Butifthereareproof-positiveoftheacquisitionofinvestmentpropertyfairvalueisdurativeandreliable,itcanalsousefairvaluemodelinsubsequentmeasurement.

3.1.4HowtoDeterminetheFairValue

InIAS,thefairvalueofinvestmentpropertyistheunbiddenpropertytransferpricebetweenthemenonthespotinfairtrade.InCAS,thereispracticallynospecialexplanationforthedefinitionoffairvalue.

ThecomparisonofAssetImpairmentbetweenIASandCAS

3.2.1Introduction

ThispapercomparedmeasurementofassetimpairmentbetweentheChineseaccountingstandards（CAS）andinternationalaccountingstandards（IAS）,analyzedtheirsimilaritiesanddifferencesandthereason,andproposedthecharacteristicofnewassetimpairmentaccountingstandard.

3.2.2TheRecoverableAmountsDetermination

IAS36stipulatedthattherecoverablevaluereferstothehigheroneofthesalesnetpriceanditsusevalue.AccordingtotherequestofIAS36,theenterprisesmustforecasttheassetcashflows,choosethesuitablediscountrate,andwecangainthepresentvalueastheusevalue.Thenwecomparetheusevaluewiththesalesnetprice,andselectthehigheroneastheasset’srecoverableamounts.CAS8stipulatedthattherecoverableamountsarethehigheroneoftheestimateddiscountedfuturecashflowsandthenetvaluethatthefairvalueminusthedisposedexpenses.Obviously,thedefinitionoftherecoverableamountsbetweentheIAS36andtheCAS8isbasicconsistent.CAS8proposedthesimilarrequestforthediscountratechoice,theforecaststandardandtheconstituentingredient.ButasforthestipulationofIAS36istooprinciple,theoperationevenabusesituationexistinthepracticalwork.Ourcountryalsohasthesimilarproblem;theenterprisecandodgetheassetimpairmentstandardthroughselectingthediscountrates.

3.2.3ThecomparisonofAILossReturns

Inordertoavoidoperatingprofitsspitefullyusingthemakingandreturnofassetimpairment,theCAS8stipulatedtheimpairmentlossescan’tbereturnedassoonasthelossesdetermined,onlywhendisposedtheasset,itispermittedtocarryontheaccountingtreatment.Thisprocedureonlyrepresentedtheoneviewpointinternationally.Theassetimpairmentlossesthatdeterminedpreviousyearwhethertopermitreturns,therehavetwoviewpointsmainly:

Thefirstviewpointwasthatwecanreturnthedeterminedassetimpairmentlosses;anotherviewpointwasthatwecannotreturnthedeterminedassetimpairmentlosses.ThestipulationoftheCAS8conformedtotheeconomicenvironmentinChina.

Firstly,ourcountry'sstockmarketisimmatureandimperfectatpresent;itisquiteseriousfortheenterprises,speciallythelistedcompaniestooperatetheprofitsusingtheassetimpairmentreturns.Secondly,theaccountantoccupationjudgmentlevelwaitsforfurtherenhancing.Therefore,consideredfromthisangle,thisstipulationhascertainrationality.ButtheIAS36representedthefirstviewpoint,stipulatedthattheassetimpairmentlossesmayreturn.ThestandardstipulatedthattheIAS36shouldreflecttheasset’struevalue,supplytheusefulaccountinginformationfortherealityandthepotentialinvestor.Toreflecttheasset’struevalue,weshoulddeterminethelossesorexpensesofassetimpairmentwhentherecoverableamountsarelowerthanthebookvalue.Whentherecoverableamountsimprovedtosomeextent,theassetimpairmentshouldberestored.TheauthorbelievedthatthestipulationofCAS8isworththinkingfurther.Toavoidtheoperationprofitsusingtheassetimpairment,CAS8hasthecertainrationalitythatforbidstoreturntheassetimpairmentlosses,butitisveryobviousthatthiswaycan’treflecttheasset’struevalue.Therefore,withtheimprovementofthemarketenvironment,thelegalenvironment,andtheassetimpairmentstandardunceasingly,theCAS8shouldpermittheassetimpairmentreturnsunderspecialcondition.

ThecomparisonofInvestmentPropertybetweenIASandCAS

3.3.1Depreciationoffixedasset

Thestraight-LineMethod,AcceleratedMethods,Sum-of-the-Years’-DigitsMethodandDeclining-BalanceMethodstandardsinourcountryareallowedinthedepreciationmethodofcapitalassets.Internationalstandardsutilizesstraightlinemethod,thedecliningbalancemethodandunitcombinedmethodinthedepreciationmethods.

3.3.2TheStartorStopTimeofTheDepreciationofCA

InInternationalaccountingstandardsandmanycountriesarenotclearlydefined.TheprovisionsofAccountingStandardsinchina:

Capitalassetsdepreciationofitsdepreciationisbasedonbookingearlytotheoriginalvalue.Monthincreasinginthemonthnottomentionthedepreciationofcapitalassets,anddepreciatingfromnextmonth;themonthremainedfixedassetsdepreciationwhenreducingorstopping,anddepreciationceasefromnextmonth.Incontrast,China'scapitalassetdepreciationprovisionaremoreprecisea