CWU Invites Ying Wei to Special Accounting Summit

On November 17, China Women's University (CWU) invited Ying Wei, inspector from the Accounting Department of the Ministry of Finance, to give a special report on "China's Accounting Standards and International Convergence".

The meeting was one of the activities of the university's "Accounting Summit", and was sponsored by the Department of Accounting of the School of Management. All the faculty members and some 300 students from the Department of Accounting attended the event, which was presided over by CWU Vice-President Song Shengju.

Focusing on the theme of the report, Ying introduced the reasons for the formation of an international convergence of accounting standards, the history of its development and trends in accounting standards recently. Since the founding of new China in 1949, China's accounting standards have been developing to meet the constant changes of environment. From the original Soviet-style system to the comparatively complete system in place in 2006, Ying illustrated the development course of China's accounting standards with her own 30-year experience.

Ying said that the construction of China's accounting standards was a process of constant improvement. China would ensure the effective implementation of the accounting standards and sustained international convergence.

At the end of the report, Ying expressed her high expectations for CWU students, and hoped that they could bear the responsibilities of accountants and make contributions to China's accounting business. All the participants greatly benefited from Ying's enlightening interpretation. The first report of the "Accounting Summit" was a complete success, said organizers.

(Source: China Women's University/Translated and edited by Women of China)