The Application of Careful Principle in the New“Business Accounting System”

The new "Business Accounting System"has been put into use within the scope of limited - liability companies in our country. It is very important normalizing business accounting, reflecting business financial affairs, business achievements and flow of cash as well as improving the quality of business accounting information. One of the most important contributions of the new "Business Accounting System" is creativity of careful principles. The new system has made full use of international practices for reference. There are greater changes in the new "Business Accounting System"than the former system in embodiment and application of careful principle both in form and substance. The full implementation of careful principle plays a positive role in supplementing and perfecting business accounting norms and regulations as well as solving new business accounting problems arising in the course of the development of market economy in our country.