Request! Advantages and disadvantages of the new and old enterprise accounting systems?

The impact of the new accounting standards on China's economy is far-reaching: from the macro level, the implementation of the new accounting standards is conducive to improving the transparency of domestic companies' accounting information, increasing the market's overall profitability in the future, and providing a realistic impetus to enhancing the international competitiveness of China's capital market; from the micro level, the full introduction of fair value measurement attributes makes the new accounting standards a "mirror with higher clarity" reflecting the value of a company. From the micro level, the full introduction of the fair value measurement attribute makes the new accounting standard a "mirror with higher clarity" reflecting the value of the company, and the accounting results will more truly reflect the company's assets and liabilities, instead of being limited to focusing on the profit and loss situation of the current period. Overall, this is the introduction of a value growth concept in the advancement of China's market economy. The new accounting standards are better adapted to the current state of China's accounting development and the future development trend, however, some important issues are still worthy of further consideration and improvement.