On the Construction of China’s Accounting Standard System with International Convergence in Accounting Standards
With the international convergence of accounting standards becoming an irresistible trend, China’s new businessaccounting standards have reached substantive convergence with International Financial Report Standards(IFRS). However, due to some factors including economy, law and culture, there is still a narrow gap betweenchina’s accounting standards and IFRS. In order to further keep up with IFRS, China should attach greaterimportance to learning from it to establish or implement its accounting standards.