Abstract

Since the 1992 memorandum of Korea and China, Korea investment toward China has been greatly increasing and due to the economic, politic and culture interchange, numbers of Korean companies have been struggling with the difference of financial accounting standard system. The purpose of this study is dealing with developing processing of Chinese financial accounting standards. Also, this study has a purpose to understand developing factors for Chinese financial accounting standards to contribute to understand how Chinese financial accounting standards works and keep up. The prior research on Chinese financial accounting standards has been studied with developing processing, characteristics and improvements of Chinese financial accounting standards. China practiced a generally planned economy from 1949 to 1978. Under planned economy system, accounting process had to take the form of a unified accounting system which was made by the government. China is going toward to set up modernized perfect legal system and financial accounting standards since 1979. China has a will to have that rapid change. China establish new accounting standard and adjusting to have a better system in whole. Also. She is getting close to the international accounting standard by removing obstacle of socialism market economy development and investment from foreign companies. According to that reasons, this research carefully indicates following expectation. First, with expectation of research, we can assume that Chinas rapid development of her economy in accounting prospective and also, the difference between Koreans and Chinese accounting system by logical comparison and actual examples. Second, with expectation of actual job process, it is expected that more understanding between both countries financial accounting standards will rise.

Keywords

• Chinese accounting standards
• Developing Process of Chinese accounting standards
• Developing Factors of Chinese accounting standards

Related Articles

• Proposals on Separating Tax Laws from Accounting Standards in the IFRS Era of Korea

  Tae Sup, Shim , Koo, Ja－Eun , Kiho Choi

  13(4) 309-341

  Abstract Full Text for PDF

• Accounting Standards for the Unlisted Companies after IFRS Adoption in Korea－A Survey Study－

  Yoon Seung Joon , Jong-Il Park , Youngkee Chung , CHOI， KWAN

  11(2) 9-44

  Abstract Full Text for PDF

• How to Revise Tax Laws to Reasonably Calculate the Education Tax Base of Long-term Non-life Insurance Contracts Based on the Critical Review on a Recent Supreme Court Case

  Byung Wook Jun

  27(2) 181-205

  Abstract Full Text for PDF Full Text for XML

• Reflection and Outlook on China’s Tax Reforms in the Xi Jinping Era

  Yoo Ho Lim

  25(3) 61-93

  Abstract Full Text for PDF

• Does Full Adoption of International Financial Reporting Standards Enhance Information Usefulness of the Notes to the Financial Statements?

  Seong, Yun-Seok

  22(6) 75-112

  Abstract Full Text for PDF