Research on Accounting System of Government and Non-profit Organizations

With the further development of the socialism public finance reform and the socialism market economy, due to the lack of a complete government and non-profit organization accounting system, the existing government and non-profit organization accounting systems that rely only heavily on the planned economy are unable to adapt Economic system reform and government management system reform required. The accounting basis of Chinese government and non-profit organizations should be converted from cash to accrual basis. Accounting elements should be based on existing assets, liabilities, net assets, income, and expenditures, and balances should be added. Income and expenditures should be increased in the organization. Importantly, the accounting measurement model is based on historical cost. In order to reliably measure costs, a fixed asset repair fund system or depreciation system should be established. In terms of disclosure of accounting information, it revised the balance sheet format, increased cash flow statement information, attached importance to off-balance-sheet information disclosure, improved financial analysis indicators, and attached great importance to financial analysis. The overall internationalization of budgetary accounting is slow, and the government and non-profit organizations are actively and steadily moving toward accounting internationalization.