Accounting conservatism is an important accounting standard and corporate governance mechanism, which has been received widespread attention and study since it was produced. Domestic and foreign scholars generally study accounting conservatism from five perspectives: definition, existence, influence factors, measurement methods and economic consequences. This paper summarizes some important literature on the research of accounting conservatism from the two perspectives of influence factors and economic consequences.The results show that the influence factors of accounting conservatism mainly include contract, litigation, tax, regulation, ownership concentration and equity balance degree and the characteristics of independent directors.The economic consequences of accounting conservatism mainly include two aspects: investment effect and financing effect. Investment is mainly divided into three types: under-investment, excessive investment and mergers and acquisitions, financing is divided into debt financing and equity financing.