Natural resources play a vital role in the economic development of a country. Natural resources accounting has become an important natural resources management tool in recent years, and it is an important part of the natural resource governance system. Natural resources accounting is an effective way to improve the governance capacity of natural resources. SEEA 2012 and SNA 2008 play a crucial role in the theoretical research and accounting practice of natural resources. They are the important theoretical framework of natural resources accounting at home and abroad. In the new era of rapid development of informatization technology, China's balance sheet and resources accounting idea of natural resource asset management promote the construction of China's natural resource governance system and improve China's natural resource governance capacity. At present, in the theory of natural resources accounting, there is still a lack of unified understanding of the accounting framework and method, and in practice, there is also a lack of an effective accounting system. Therefore, it is necessary to systematically analyze the theoretical results of current natural resources accounting and establish the natural resources accounting system in China to guide the practice of natural resources accounting. Based on WSR methodology, this paper studies the theory and literature of natural resources accounting, and considers the establishment of China's natural resources accounting system. The main conclusions of this study are as follows: The natural resources accounting system should systematically analyze the "WSR" of natural resources accounting; based on the "WSR" analysis, the natural resources accounting consists of the national economic accounting of natural resources, the government asset management accounting of natural resources and the enterprise operation asset accounting of natural resources. The national economic accounting of natural resources is helpful for making macro-economic plan and economic decision-making, government asset management accounting of natural resources is helpful for government asset management, and enterprise asset accounting of natural resources is helpful for enterprise natural resource asset management and market element allocation. Based on WSR method, the natural resources accounting system can make wiser choices for accounting purpose, accounting framework, way of realization and accounting method. After a systematic analysis, the construction of accounting theoretical structure of natural resources accounting is helpful to improve the theory and practice, and to solve the divergence in the field of natural resources accounting research.