On December 9, the 2023 Annual meeting of the Accounting Standards Professional Committee of the Chinese Accounting Society was successfully held in our school. This seminar is sponsored by the Professional Committee of Accounting Standards for Enterprises of the Chinese Accounting Society and hosted by Business School of our University. Liu Guangzhong, first grade Inspector of the Accounting Department of the Ministry of Finance, Secretary General of the Chinese Accounting Association, Gong Liutang, Vice president of Beijing Technology and Business University, Liu Guoqiang, Deputy Secretary general of the Chinese Accounting Association, attended the meeting and delivered a speech. Vice Chairman of the Special Committee Wang Pengcheng, members Chen Wuchao, Guo Xuqin, Mao Xinshu, Nie Xingkai, Shi Benren, Song Yanheng, Wang Qinggang, Xie Shifen attended this meeting, Fu Shilun, Secretary of the Party Committee of Business School, Zhang Weihua, Deputy director of the Planning and Finance Department, Chen Chaolin, Zhang Chenyu, liaison officer of the Professional Committee, and more than 30 experts from the academic and practical circles such as Ernst & Young, PricewaterhouseCoopers Zhongtian Accounting firm, Dong Bei University of Finance and Economics, Beijing Technology and Business University were invited to participate in the discussion on the current hot topics related to enterprise accounting standards.

        At the opening ceremony, Director General Liu Guangzhong extended his congratulations on the successful convening of the annual meeting of the Accounting Standards Professional Committee of the Chinese Accounting Society and articulated four key points regarding the work of the professional committee and enterprise accounting standards research. First, it is imperative to closely monitor international developments, foster a conducive academic environment, and provide robust theoretical support to enhance China's influence in formulating international standards. Second, attention must be directed towards China's practical applications to identify and address emerging challenges in implementing accounting standards for domestic enterprises. Third, significant emphasis should be placed on Sinicizing the Chart of Accounts (COC) to mitigate difficulties arising from international convergence in understanding and applying these standards. Fourth, there is a need to actively construct an independent accounting knowledge system in China that capitalizes on opportunities presented by big data and artificial intelligence while promoting innovation in accounting theories and methodologies. Director General Liu Guangzhong expressed hope that participating experts and scholars would focus on overarching issues, build consensus, and collaboratively advance high-quality development within China's accounting sector.

        In his address, Vice President Gong Liutang warmly welcomed all attending experts and scholars with sincere gratitude. He emphasized that as a prestigious research university located in Beijing, our institution aims to establish itself as a leading research entity characterized by business acumen alongside light industry and food sciences; steadfastly pursuing a developmental trajectory defined by "strengthening business capabilities while excelling in engineering disciplines through integrated industry-commerce approaches." The Finance and Accounting Department at our university actively engages with critical topics such as accounting standards reform concerning state-owned assets/enterprises along with investor protection initiatives—serving national development goals while contributing insights toward establishing effective     performance management frameworks for capital markets within Beijing. Given its foundational role in macroeconomic governance alongside market resource allocation processes—accounting currently faces unprecedented opportunities coupled with formidable challenges for advancement; thus it is anticipated that present experts will pool their collective wisdom offering valuable recommendations aimed at reforming Chinas contemporary accounting standard landscape whilst jointly fostering enhancements within its overall framework.

        Deputy Secretary-General Liu Guoqiang conveyed appreciation for organizing this conference highlighting its focus on pressing societal issues necessitating urgent theoretical exploration during discussions among participants—aiming ultimately towards achieving consensus which could significantly bolster Secretariat operations.

        In the morning session Professor Wang Pengcheng from our university delivered an insightful report titled "Outlook for Revision of Accounting Standards Pertaining To Intangible Assets And Development Of Data Asset Standards". Professor Wang meticulously examined intangible assets through lenses encompassing historical evolution alongside recognition metrics including measurement/presentation aspects—alluding also towards recent advancements made by prominent global organizations like AASB UKSB EFRAG whilst identifying hurdles needing resolution pertaining specifically towards interim provisions governing accountancy practices related thereto plus outlining pathways forward regarding developing corresponding data asset regulations domestically.

        During afternoon proceedings Professor Huang Shizhong representing Xiamen National Accounting Institute presented findings encapsulated under “The Interplay Between Sustainability Reporting & Financial Reporting - Implications Arising From Climate Change On Application Of Accountancy Norms”. His comprehensive discourse traversed sustainable growth paradigms transitioning from singular reporting formats into dual disclosures emphasizing sustainability information positioning vis-à-vis financial statements interrelations further elucidating climate change ramifications impacting fiscal documentation integrity overall.

        Participating specialists engaged fervently discussing themes surrounding intangible/data assets along with sustainability-financial reporting correlations yielding numerous expert opinions meriting deeper contemplation thereby providing fresh perspectives/inspirations fueling ongoing scholarly inquiry into accountancy domains moving forward collectively enhancing future endeavors undertaken across respective fields involved herein.

        This seminar represents one pivotal academic gathering orchestrated under auspices belonging finance/accountability discipline affiliated directly via our institution henceforth we shall endeavor consolidating superior resources facilitating rigorous investigations centered around evolving regulatory frameworks advancing construction efforts geared toward refining national-level systems underpinning broader strategic objectives aligned concurrently benefiting both countrywide aspirations/capital-centric initiatives alike.