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Accounting for the Chinese Context: A Comparative Analysis of International and Chinese Accounting Standards Focusing on Business Combinations

Posted: 10 Jul 2008  

Yuri Biondi

French National Center for Scientific Research (CNRS)

Qiusheng Zhang

School of Economics and Management, Beijing Jiaotong University

Multiple version iconThere are 2 versions of this paper

Date Written: October 2007

Abstract

This paper aims at understanding the recent evolution of Chinese accounting standards while focusing on accounting for business combinations as a case of reference. A comprehensive comparative analysis between the standards of the International Accounting Standards Board and Chinese accounting standards is provided, based upon a dualistic approach towards two opposing perspectives of accounting, static (fair value) and dynamic (matching based). The comparison casts doubt on the ultimate convergence of Chinese and international accounting standards. Main differences remain and are explained by taking into account: (i) the special Chinese context, (ii) the massive industrial development experienced by business enterprises in China and (iii) the dynamic accounting perspective that leading accounting theorists and Chinese regulatory authorities agree with and wish to encourage.

Keywords: accounting, corporate finance, China, international standards, business combinations, G34 corporate finance and governance, mergers, acquisitions, M41 accounting, O16 economic development, financial markets, saving and capital investment, corporate finance and governance

Suggested Citation

Biondi, Yuri and Zhang, Qiusheng, Accounting for the Chinese Context: A Comparative Analysis of International and Chinese Accounting Standards Focusing on Business Combinations (October 2007). Socio-Economic Review, Vol. 5, Issue 4, pp. 695-724, 2007. Available at SSRN: https://ssrn.com/abstract=1157713 or http://dx.doi.org/mwm015

Yuri Biondi (Contact Author)

French National Center for Scientific Research (CNRS) ( email )

IRISSO - University Paris Dauphine PSL
Place Marechal Lattre Tassigny
75016 Paris
France

HOME PAGE: http://yuri.biondi.free.fr/

Qiusheng Zhang

School of Economics and Management, Beijing Jiaotong University

No.3 of Shangyuan Residence Haidian District
Beijing
China

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