Analysis of Problems and Countermeasures in the Implementation of the New Accounting Law

Of the Chinese new Accounting Law implement is regulate Chinese accounting practices and promote the healthy and stable development of the accounting industry. But it still emerged many problems during the implementation process, this research thorough analysis these problems and propose countermeasures. Analysis reveals: For cross-border business have double accounting standards conflict and obvious differences in revenue recognition, asset measurement and other aspects, it will trigger tax disputes and other issues. It lacks hierarchical management, small and medium-sized enterprises have high compliance costs and are prone to excessive penalties. The accounting practitioner’s skill gap and the education system is backward, shortage of compound talents. Face these problems, the convergence and integration with international accounting standards should be accelerated to build a cooperation platform. Improve the legislative system, clear legal boundaries and implement hierarchical management. Innovate the skills education system and accounting professional title examination, cultivate compound talents. This research provides solutions to the problems found in the implementation of the new Chinese Accounting Law, provide inspiration for the revision of the Accounting Law, help the development of accounting industry.