Cultural and economic influences on current accounting standards in the People's Republic of China

摘要: Abstract Accounting Principles in the People's Republic of China have undergone dramatic reform since 1970s. In moving toward a more market driven economy, structures and accounting rules changed to point that today many concepts principles familiar most advanced economies are part Chinese regulations laws. While has forged similar Western international practice, there anomalies may not be easily explained without detailed understanding cultural, economic political environment now facing China. The principle Guo Qing implies change will implemented only conjunction with needs. As evidenced statutory restrictions on value certain contributed intangibles, write-offs accounts receivable discretionary write-downs inventory for lower-of-cost-or-market considerations, remain some areas practice historical, circumstances encourage an inexplicable result. Additionally, differences perspective attributable history than specific rules.