Developing accounting standards on the basis of a conceptual framework by the Chinese government

Xiao, Zezhong ORCID: https://orcid.org/0000-0003-0703-6447 and Pan, Aixiang 1997. Developing accounting standards on the basis of a conceptual framework by the Chinese government. The International Journal of Accounting 32 (3) , pp. 279-299. 10.1016/S0020-7063(97)90012-1

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Abstract

Contradictory to some existing theories, the Chinese government has been developing accounting standards on the basis of a conceptual framework (CF) titled Accounting Standards for Business Enterprises (ASBE). This article evaluates the role of the ASBE and explores the potential benefits and risks of and the reasons for the adoption of a government-controlled and CF-based approach. We argue that a CF can play an important role even if accounting standard-setting is controlled by the government; however, the ASBE provides an insufficient basis for developing accounting standards.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Business (Including Economics)
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HF Commerce > HF5601 Accounting H Social Sciences > HJ Public Finance J Political Science > JQ Political institutions Asia
Uncontrolled Keywords:	People's Republic of China; Chinese accounting; Accounting standards; Conceptual framework; Financial accounting; Financial reporting
Publisher:	Elsevier
ISSN:	0020-7063
Last Modified:	21 Oct 2022 09:52
URI:	https://orca.cardiff.ac.uk/id/eprint/38144

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