Zhu Rongji, the premier of China, was very strict in his word and rarely wrote inscriptions, but he wrote the motto "no false accounts" for the newly established three National Accounting Institute.

Speaking at the opening ceremony of the sixteenth World Conference of accountants, when talking about China's accounting profession, Zhu Rongji stressed that the Chinese government attached great importance to the construction of accounting professional ethics, and demanded that all accountants should be "honesty oriented, integrity oriented, adhere to standards, do not make false accounts", do not bend to and cater for any pressure and unreasonable demands, do not seek selfish interests by taking advantage of their positions, and do not provide false accounting information.

At present, there are one thousand and two hundred listed companies in China, seventeen point four state-owned enterprises, eight point two collective enterprises, four hundred and ten thousand foreign-funded enterprises and more than 220 000 private enterprises.

According to the current economic growth rate, more and more companies will be produced in China in the future.

China is an indispensable accounting service market in the world, whether it is auditing business or accounting consulting business.

In the future, with the acceleration of economic globalization, China's accession to the WTO will become increasingly close to the world economy.

In the process, the accounting information, known as the world's general business language, has attracted more and more attention and more attention. The high quality accounting information is no longer confined to the use effect of investors. The impact of the recent series of accounting fraud on the economy has been pointed out by experts that it has far exceeded the "9.11" incident.

High quality accounting information disclosure depends on the production of high-quality accounting information and the independent audit of high-quality certified public accountants.

Among them, the enterprise accounting information production is the enterprise accountant under the leadership of the enterprise operator, according to the enterprise accounting standards (accounting system), the use of accounting means of labor, the enterprise's production and business activities to truly reflect.

To this end, if the two factors of the operator's deliberate interference in the accounting work of enterprises and the low quality of business accountants are put aside, the quality of accounting information will depend largely on the quality of accounting standards and the quality of the practice of certified public accountants.

As audit issues have become the focus of today, this article will not repeat again. This article focuses on accounting information production, and how to better produce high-quality accounting information.

The stock price of Enron fell to $0.36 from a peak of $90.56, and World Communications's share price dropped to $0.83 from the peak of $64.

These former giants are swallowing their bitter fruit.

After the Enron incident came to light, employees in Enron remained unaware of the huge signs erected every day at the door of Enron Corp.

But no matter how hard they try, they can not erase the fact that they are making false accounts.

WorldCom falsely reported a profit of 3 billion 800 million US dollars; Merck made a false profit of $12 billion 400 million, and Xerox made a false profit of $1 billion 900 million.

The five largest accounting firms in the world have also paid a price for their actions.

Arthur Andersen's accounting firm, which disguise fraud for Enron Corp, has been banned from providing audit services to listed companies, and has been revoked by American States.

Four other accounting firms were also forced to divest the consulting business.

After experiencing the baptism of the accounting profession, PWC CEO, one of the world's five largest accounting firms, published a book entitled "building public confidence", revealing their feelings and self accusation.

Because accounting information is provided to shareholders as an investment information society, accounting information has become the basis for decision making and analysis of information users. People pay more and more attention to the usefulness of accounting information.

The so-called "usefulness" means that accounting information can help people choose the decision plan, improve the level of management and improve the economic efficiency of enterprises, and the most important thing is making the right decisions. Therefore, the usefulness of accounting information is usually referred to as decision usefulness.

The usefulness of decision-making is mainly manifested in two basic characteristics: reliability and relevance. This article tries to talk about how to further improve and perfect accounting information disclosure from these two aspects.

From the point of view of reliability, the key to ensure the authenticity of accounting information is to ensure the authenticity and reliability of accounting information.

In recent years, the distortion of accounting information has aroused widespread concern in the whole society. The distortion of accounting information has disrupted the order of the market economy, damaged the social image of listed companies, dampened the enthusiasm of investors, and made information users feel a sense of distrust.

Therefore, how to improve the quality of accounting information and ensure the reliability and authenticity of accounting information is a matter of great concern from the government to the public.

Since 1990s, due to the rapid development of new and high technology and the rapid development of financial innovation, business activities are becoming more and more complex and diversified. Enterprises are constantly generating new and non-traditional sources of income. The income statement (income statement) is increasingly unable to provide users with comprehensive financial performance information.

Academia and user groups have criticized that the correlation between traditional performance reports represented by the profit and loss account (income statement) is declining and calls for reform of performance reports are very high.

This kind of public opinion has caused tremendous pressure on the standard setting institutions.

At present, the western countries' standards making bodies, such as the ASB, the FASB, the IASC and G4+1, are working on the improvement of the financial performance report, and have taken actions successively. Among them, the United Kingdom, the United States and IASC have set the corresponding criteria.

This section mainly introduces the background, international trend and future development trend of financial performance report reform.

However, we can see from their guidelines that ASB, FASB, IASC and G4+1's reform ideas are to set up a framework first, and then fill in the content by setting up specific accounting standards.

This is a realistic choice for solving some urgent accounting problems, such as derivatives and accounting treatment of hedging financial instruments.

However, with the popularization and application of fair value, unrealized gains or losses become more and more. Therefore, it is necessary to establish a basic standard to confirm unrealized gains or losses.

Measurement brings new problems of recognition, and the problem of measurement needs to be solved by confirmation.

The fair recognition standard is the fair measurement and the assurance of obtaining the true comprehensive income information.

According to specific criteria, which unrealized gains or losses should be recognized and measured, it is bound to lead to differences in recognition and measurement standards, thereby reducing the comparability and reliability of financial performance information.

It seems that in order to solve these problems, we need to revise the conceptual framework of financial accounting in the future.

Most of the events appear under the condition that the accounting standards are constantly enriched and perfected. It can be said that even if the accounting standards of the United States are benchmarked by various accounting standards, their own tedious will also lead to its poor practicality. Every guideline on hundreds of pages often includes almost all the documents from soliciting opinions to finalized papers. Many of them are also obscure and difficult. This will make it a good and not popular criterion. Therefore, while IAS is at the same time with FASB, it will constantly introduce its own relatively simple criteria. The author thinks that the formulation of China's accounting standards should be aligned with IAS and strive to work out a general and simple high-quality accounting standard. At the same time, we must also pay attention to various types of recent developments.

Let us look back at the history. Before 1930s, it was the time when the enterprises in the United States made their own accounting rules.

At that time, the accounting profession in the United States was in a state of chaos, and there were many methods of valuation of assets. Only enterprises had gradually formed some accounting practices for selfish purposes.

In this stage, the stagnant and chaotic accounting situation is in sharp contrast with the rapidly developing economic situation. People compete to conceal their financial information and compile false accounting reports.

The distortion of the real economy of enterprises ultimately leads to the collapse and paralysis of the whole market.

The painful lessons of the crisis forced the US government to embark on the front desk of accounting making.

The formulation of a strict but unlimited free accounting standard becomes the most urgent requirement. Therefore, we will look at it and find that when President Roosevelt tried to make securities law in the stock market in 1933, he did not use the thick documents prepared by a group of old scholars who spent a few months in writing. Instead, he asked a few young lawyers to form the company law in thirteen short sentences and become the basic law of securities trading.

We can be glad to see that in 2001, the Ministry of Finance issued three accounting standards on interim financial reports, fixed assets and inventories, and issued the accounting system for financial enterprises. The Ministry of finance is also drafting the two accounting standards, accounting standards for enterprises - earnings per share and accounting standards for enterprises - termination of operations.

The China Securities Regulatory Commission has also issued the "rules for the disclosure of information disclosure of securities companies" and "guidelines on the content and format of corporate disclosure of publicly issued securities".

In 2002, the SFC and the State Economic and Trade Commission promulgated the "guidelines for corporate governance", and for the first time organized a joint inspection of the governance mechanism of listed companies.

The formulation of these event criteria is timely raised in the case of various problems in our securities market, and it also complies with the characteristics of IAS in a relatively simple style.

In the past few years, our country's accounting standards have been set up and published very fast. Compared with other countries, this speed is amazing.

On the other hand, in terms of quality, we are now very close to the level of international norms. This is also a great achievement for our country in this respect.

So I think the convening of the world accountants conference in China is a recognition of China's accounting profession.

Including the recognition made by our accounting standards.

We must ensure that accounting standards are strictly enforced, and timely disclosure of us accounting standards is fine. But since the first big rotten apple started in December 2, 2001, the US energy giant Enron Corp has formally filed for bankruptcy protection in a federal district court in New York. The bankruptcy list has assets of up to US $63 billion 100 million, creating a new record of bankruptcy in the United States.

In January 22, 2002, Kay Matt, the second largest retailer in the United States, applied for bankruptcy protection.

As of October 31, 2001, the company's total assets amounted to $17 billion.

Global Telecom: Telecom darling became a martyr. In January 28, 2002, American globe Telecom filed for bankruptcy protection in bankruptcy court in New York due to its debts.

The broadband telecom company listed bankruptcy amount of $22 billion 400 million.

General Company, IBM, AOL Time Warner and a large number of "investment" stocks also received the inquiry of the US stock exchange at this time.

In the past, the accounting profession and related auditing industry suddenly became the focus of "9.11". Due to the influence of the knowledge economy era and the spirit of innovation in the accounting session, we formulated some relevant methods in order to adapt to the characteristics of some industries. However, due to the lack of practice, it often led to misuse by some arbitrage enterprises. The biggest feature of these enterprises is to replace the accounting standards by means of new methods. These companies, without their financial staff's encouragement and force under the guidance of CEO, have made use of their own familiarity with the accounting system, familiar with the ideas and methods of auditing audit, and have made a lot of fraudulent practices.

To improve the reliability of accounting information disclosure, first, we must establish and improve the laws and regulations that ensure the true and reliable accounting information, so that the law can be followed and the law enforcement must be strict. Secondly, accounting information comes from the daily economic activities of enterprises. If enterprises can establish effective internal control system according to the requirements of modern enterprises, we can greatly reduce the behavior of manipulating accounting information. If year-end financial reporting system adopts internal publicity system, it is also an effective way to prevent accounting information cheating. Third, we should further improve the accounting system of certified public accountants, expose the unaccountable certified accountants, and investigate their legal responsibilities, so as to provide a better economic and legal environment for the reliability of accounting information.

A strong information disclosure system is the basic guarantee for the company to conduct market supervision. It is the key for shareholders to exercise the right to vote. All shareholders of the listed company have the right to know the company's information in time and in a comprehensive way.

The experience of developed countries shows that information disclosure is also a powerful tool to influence corporate behavior and protect investors' interests.

A strong disclosure system helps to attract capital and maintain confidence in the capital market.

Shareholders and potential investors need to get regular, reliable, comparable, and detailed information so that they can be competent for the manager.