To read this content please select one of the options below:

$40.00 (excl. tax) 30 days to view and download

RECENT ACCOUNTING REFORM IN CHINA

Haoping Chen, Alfred V. Tran

Asian Review of Accounting

ISSN: 1321-7348

Article publication date: 1 January 1995

484

Abstract

China has undergone significant economic reform since 1978. The transformation from a centrally planned economy to a socialist market economy created the need for corresponding reform of the accounting regulatory framework. The accounting reform has culminated in the promulgation of the Enterprise Accounting Standard by the PRC Ministry of Finance effective from July 1, 1993. This review article analyzes the reasons for the recent accounting reform in China and its direction towards harmonization with international accounting standards and practices. The old and the new accounting regulatory frameworks are compared and contrasted. Some problems and prospects also are discussed.

Citation

Chen, H. and Tran, A.V. (1995), "RECENT ACCOUNTING REFORM IN CHINA", Asian Review of Accounting, Vol. 3 No. 1, pp. 3-24. https://doi.org/10.1108/eb060650

Publisher

:

MCB UP Ltd

Copyright © 1995, MCB UP Limited

Related articles