Abstract
This paper analyzes the impact of recent Asian financial crisis on the Chinese economy, and the preventive measures adopted by the Chinese government to curb potential financial turmoil and economic recession in China. It also examines the most recent developments of Chinese accounting reforms that serve as an integrated part of the preventative measures adopted by the government. The potential risk exposures to financial crisis and economic recession, the motivations and content of the preventative procedures, the progress in formulating and implementing new accounting standards to reconcile Chinese accounting with the internationally accepted practices, and the consolidation of public accounting to ensure a smooth enforcement of the newly introduced accounting standards and a substantial improvement of the reliability and comparability of business accounting and information disclosure are sequentially delineated in detail. The prospect of the current round of accounting reform is briefly discussed to end the paper.
Original language | English |
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Pages (from-to) | 63-79 |
Number of pages | 17 |
Journal | Managerial Finance |
Volume | 26 |
Issue number | 5 |
DOIs | |
Publication status | Published - 1 May 2000 |
Scopus Subject Areas
- Finance
- Strategy and Management
User-Defined Keywords
- Chinese economic reforms
- Asian financial crisis
- Chinese accounting standards
- public accounting in China
- Accounting reforms