The Report
The rapid expansion in China ’s economy and the move towards increasing globalisation of business increases the pressure for increased global harmonisation of accounting standards. Indeed, the risk and cost to industry of non-compatibility with global accounting standards can be high. However, the issue of cultural differences in the quest for global accounting harmonisation can not be ignored.
This report aims to address some of these issues arising in China by providing a better understanding of the extent to which political, economic and ideological changes and the development of foreign direct investment have impacted upon accounting regulation in China . These changes have resulted in China now being the largest destination worldwide for foreign direct investment.
The study recognises the importance of political ideology on the development of accounting and the demand which the rapid increase in foreign direct investment has had on the need for international accounting harmonisation. The interaction between accounting regulations for foreign invested firms, domestic firms and IFRS is also considered, highlighting the need to recognise the cultural peculiarities of China.The authors conclude with important and far reaching policy implications.
ISBN 978-1-904574-39-2
Price £15.00
This report can be ordered in hard copy or downloaded in PDF format. There is also an Executive Summary to give a brief overview of the report.
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