IFRS in China

Posted: 19 May 2010

See all articles by Karthik Ramanna

Karthik Ramanna

University of Oxford - Blavatnik School of Government

G. A. Donovan

Asia Pacific Research Center

Nancy Dai

Harvard Business School, Asia Pacific Research Center

Date Written: November 30, 2009

Abstract

In 2005, China announced plans to "converge with," but not completely adopt, IFRS. China also began to lobby for changes to specific IFRS provisions, such as for related party disclosures by state-owned firms, to bring them more into line with Chinese interests. China's accounting system had already undergone significant reforms during the two decades when its economy had grown to become the fourth largest in the world. However, enforcement of accounting standards remained weak, the financial system was relatively immature, and large state-owned firms still dominated many sectors of the economy.

Suggested Citation

Ramanna, Karthik and Donovan, G. A. and Dai, Nancy, IFRS in China (November 30, 2009). HBS Case No. 110-037, Harvard Business School Accounting & Management Unit, Available at SSRN: https://ssrn.com/abstract=1611221

Karthik Ramanna (Contact Author)

University of Oxford - Blavatnik School of Government ( email )

Radcliffe Observatory Quarter
Oxford, Oxfordshire OX2 6GG
United Kingdom

G. A. Donovan

Asia Pacific Research Center

Soldiers Field Road
Morgan 270C
Boston, MA 02163
United States

Nancy Dai

Harvard Business School, Asia Pacific Research Center ( email )

Soldiers Field Road
Morgan 270C
Boston, MA 02163
United States

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