Excerpts from the M ain Article in This Issue 1.Dev elopment and Creation of Economic Theory after the Reform and Op ening of Chian (Zhao Xiadlei) The study of economic theory includes pure theoretical study and practical economy study.The former is to correct and improve the economic theoretical system,and to do some deep study on original topic or theorem,as well as to make the economic theoretical system concerned more reasonable.The latter is to study some new problems which occur in the e- conom ic practice,and to explain in theory the relative economic phenom ena,as well as to de- velop new theory.This article is to study the development of economic theory after the re- form and opening of China,and give it a basic summery. 2.A n A nalysis on the Causes for the Difficulties in A chiev ing the Goals of Inheritance Tax (Wei Fengchun The pur pose of inheritance tax is:to increase financial revenue and to strengthen finan- cial macro control;to adjust the unfair of social distribution and prevent too big difference betw een the poor and the rich;to improve property system Evolutive marketization process influence the establishment and improvement of every regulation which is necessary for in- heritance tax.Therefore,the purpose of inheritance tax can not be achieved in short time, and the basic conditions do not exist. 3.The Challenge of "K now ledge Based Economy"to Traditional A ccounting (Li X inhe) Facing the challenges of know ledge based economy,we should deepen the frame of fu- ture accounting:to substantiate financial accounting goals;increase information about know ledge creation;correct the theory of accounting right;improve human resource ac- counting and reform the model of accounting measurement. C1994-2012 China Academic Journal Electronic Publishing House.All rights reserved.http://wyExcerpts from t he M ain Article in T his Issue 1. Development and Creation of E conomic Theory af ter the R ef orm and Op ening of Chian ( Zhao X iaolei) The study of economic theo ry includes pure theor etical study and practical eco nomy study . The fo rmer is to correct and improve the eco nomic theo retical system, and to do some deep study on orig inal topic or theor em, as w ell as to make the economic theo retical system co ncer ned mor e reasonable. The latter is to study some new problems w hich occur in the e￾conomic practice, and to ex plain in theory the relative economic phenomena, as w ell as to de￾velop new theo ry. T his article is to study the dev elo pment o f economic theory after the r e￾fo rm and opening o f China, and give it a basic summery . 2. A n A naly sis on the Causes f or the Dif f iculties in A chieving the Goals of I nheritance Tax ( W ei Fengchun ) The pur pose of inheritance tax is: to increase financial revenue and to streng then finan￾cial macro co ntro l; to adjust the unfair of social distribution and prevent too big difference betw een the poor and the rich; to impro ve property system Evolutive marketizatio n process influence the establishment and improvement o f every reg ulation w hich is necessary fo r in￾heritance tax . Ther efore, the purpose of inheritance tax can not be achiev ed in short time, and the basic conditions do no t exist. 3. T he Challenge of "K now ledge Based Economy " to T raditional A ccounting ( L i X inhe) Facing the challenges of know ledg e based economy , we should deepen the frame o f fu￾ture accounting; to substantiate financial accounting goals; increase info rmation abo ut know ledge creatio n; corr ect the theory of acco unting right; improve human resour ce ac￾counting and reform the model of accounting measurement