Asian Financial Crisis and Accounting Reforms in China

Z. Jun Lin*, Feng Chen

*Corresponding author for this work

    Research output: Contribution to journalJournal articlepeer-review

    10 Citations (Scopus)

    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 languageEnglish
    Pages (from-to)63-79
    Number of pages17
    JournalManagerial Finance
    Volume26
    Issue number5
    DOIs
    Publication statusPublished - 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

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