Study on the basics of advanced financial accounting
[summary] while the new discipline of senior financial accounting is evolving rapidly, the theoretical community has not yet divided on its definition, scope of research, theoretical system, composition of core elements, i. E., a unified and complete system of research on advanced financial accounting has not yet been developed. In writing, emphasis was placed on the composition of the basics of senior financial accounting。
[keywords] advanced financial accounting; basic content; concepts; definition; composition
Overview of senior financial accounting
Advanced financial accounting refers to accounting theories and methods that deal with particular transactions and transactions occurring in enterprises based on amendments to the original financial accounting theory and methodology system. As a rule, the meaning consists mainly of the following:
First, financial accounting includes senior financial accounting, which means that senior financial accounting is an aspect of financial accounting;
Second, the particulars faced by the enterprise are the main subjects of research for advanced financial accounting;
Thirdly, the original financial accounting theory and methodology should be amended in such a way as to be the main basis of advanced financial accounting。
Ii. Definition of the basic elements of advanced financial accounting
In the current theoretical world, there are considerable differences between the domestic and foreign spheres regarding the basic elements contained in high-level financial accounting. However, in defining the basic elements of high-level financial accounting, the professionals in question agree that accounting is combined, accounting by transnational corporations, accounting by bankruptcy, liquidation and reorganization, accounting by joint branches and accounting by joint branches is the principal component, with the recognition rate consistent with that order. The problem of defining the basic content of the discipline is complex and it has its own discipline patterns, so the omission of a definition of the basic internality of high-level financial accounting based on the recognition rate necessarily leads to a lack of scientific science and comprehensiveness. The basic elements that constitute senior financial accounting are defined on the basis of the largest difference between senior financial accounting and traditional accounting. Senior financial accounting is considered to be an accounting other than traditional accounting, which was first defined in academia. However, the increasing number of accounting elements outside of tradition in fast-growing societies, in globalized economies, in progressive scientific and technological developments has called into question the scientific nature of their integration into a discipline。
Iii. Composition of senior financial accounting
(i) basic principles for determining the content of advanced financial accounting
First, in determining the scope of senior financial accounting, the relationship between economic matters and the four assumptions is to be considered theoretically consistent with the limited scope of the four assumptions, which we group within the category of intermediate financial accounting。
Second, consideration of the interface with the middle-level financial accounting and other accounting curriculum requires particular attention: some transactions, while not departing from the four underlying assumptions, are not general and business processing is more difficult and should not be addressed in middle-level financial accounting, such as commodity futures, derivative financial instruments, leasing operations, disclosure of accounting information of listed companies, etc。
(ii) integrity and systemic coherence of essential content
Economic development has led to new operations, which have led to a relaxation of pre-existing assumptions. For example, as a result of the diversification of the investment entity, which led to a change in the accounting body, i. E. A composite entity has emerged and the accounting of a single accounting entity can no longer meet objective needs, resulting in consolidated accounting; increased competition among enterprises and the inevitable insolvency, liquidation and reorganization of enterprises, at which point the continuing operating assumption ceases to apply and hence accounting for insolvency, liquidation and reorganization; at the same time, during the insolvency period, there was a certain degree of variation in the assumptions for accounting instalments and currency measures, but the currency measurement assumptions were not applicable primarily because the currency measurement assumptions for inflation led to accounting for price changes. So the basics of high-level financial accounting are better summarized. In addition, partnerships, branch accounting, which corresponds to consolidated accounting, should be included; inflation accounting is only discussed in the accounting for price changes, and the energy crisis, which can also cause inflation, should also be considered; the application of new science and technology could lead to a substantial increase in supply over a certain period of time, leading to deflation, even though deflation accounting is not being reported and should be considered. As such, the high-level financial accounting fundamentals system, which has emerged from the looseness of accounting assumptions, lacks some completeness and system and requires consideration and refinement in other ways。
In terms of the integrity of one discipline, it would be useful to include the sequence, so as to provide readers with a clearer understanding of the content and framework structure of senior financial accounting, in order to facilitate an accurate understanding of the positioning of high-level financial accounting; a systematic approach to high-level financial accounting should also include partnership, branch accounting and segment reporting, as well as mid-term reporting; and, as the country's equity-sharing reforms are in place, corporate stock buy-backs would be on a number of corporate agendas, so that corporate accounting would be more appropriately placed in senior financial accounting. It's worth mentioning the issue of accounting ethics, which is also an important issue for the accounting community today. The issue of accounting ethics has been raised more frequently by foreign scholars, and no other scholars have been identified in the country to raise the issue, apart from the scholar professor zhang wenghyun。
This aspect of our accounting professional set-up is hardly relevant, and the relevant accounting standards and regulations have not been integrated into the teaching and research system, resulting in a major knowledge gap for professionals. In the face of the growing number of accounting information distortions and accounting problems, it was necessary to strengthen the study of accounting ethics, which should be incorporated into the system of basic elements of financial accounting。
(iii) content of advanced financial accounting
At present, senior financial accounting consists mainly of several aspects: 1 sequence; 2 accounting ethics; 3 corporate accounting; 4 consolidated accounting; 5 partnership, branch accounting; 6 segment reporting and mid-term reporting; 7 bankruptcy, liquidation, reorganization accounting; and 8 price change accounting, which in large part constitutes the basic content system of senior financial accounting, are appropriate. As for other existing high-level financial accounting elements that are not part of the system, there are three approaches: the first is to place content that would otherwise belong to other disciplines in the corresponding disciplines, for example, that cross-border accounting is the main element of international accounting; second, other business is developed into a separate course, which can be called special accounting; thirdly, given the rapid development of derivative financial accounting and the gradual increase in its coverage, given its specific content and the complexity of transactions, it could be grouped into a separate course on accounting for financial instruments。
Summary
In summary, senior financial accounting is the sum of the theory and methodology of accounting treatment, which is based on the revision of the former financial accounting theory and methodology system and is the subject of research on special matters arising in the enterprise. Thus, the easing of accounting assumptions resulting from objective economic swaps is the basis for advanced financial accounting. In theory, special transactions that deviate from four accounting assumptions (accountancy body, going concern, accounting period, currency measurement) are the main areas of study for advanced financial accounting. It is important to note that the interface with middle-level financial accounting is a priority in the organization of specific content。
