An empirical evaluation of the new system of business accounting system.pdf

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1、JournalofInternationalAccounting,Auditing&Taxation10(2001)23±49AnempiricalevaluationofthenewsystemofbusinessaccountinginChinaa,bcZ.JunLin*,FengChen,QingliangTangaHongKongBaptistUniversity,HongKongbTheUniversityofHongKong,HongKongcTheUniversityofWesternSydney,AustraliaAbstractTheChinesegovernmentin

2、troducedanewsystemofbusinessaccountingin1993.Thenewsystemdepartssubstantiallyfrompreviousaccountingsystemsdominatedbyrule-basedaccountingregula-tions,andischaracterizedbytheadoptionofaccountingstandardsinChina.AccountingStandardsforBusinessEnterprisesandthirteennewindustry-speci®caccountingregulat

3、ions(systems)havebeenenactedsincethen.Effortscontinuetoformulateandenforceasetofmoredetailedªpracticalaccountingstandards.ºSigni®cantchangeshavethustakenplaceinChineseaccounting.Thispaperreportstheresultsofasurveystudytoevaluatetheeffectsofthenewaccountingsystem.Thestudyresultsrevealthatthestakeho

4、ldersofbusinessaccountinginChina(includingusersandprovidersofaccountinginformation)generallyagreedthatthenewaccountingsystemhasledtosubstantialimprovementintheunderstandability,comparability,anddecisionusefulnessofaccount-inginformationproducedbyChineseenterprises.However,theyarestronglysupportive

5、offurtheradoptionoftheinternationallyacceptedaccountingprinciplesandproceduresinChineseaccounting.Inaddition,thisstudydemonstratestherespondents'supportforreducingªfreechoiceºofaccountingalternativesinaccountingstandardsandtheirperceptionoftheoptimalmodelofaccountingstandardsettingandenforcementin

6、thecontextofbusinessconditionsinChina.©2001ElsevierScienceInc.Allrightsreserved.Keywords:Accountingstandards;Chineseaccounting;Internationalaccounting;Accountingharmonization;Accountingstandardsetting*Correspondingauthor.Tel.:1852-2339-7537;fax:1852-2339-5581.E-mailaddress:linzj@hkbu.edu.hk(Z.J.Li

7、n).1061-9518/01/$±seefrontmatter©2001ElsevierScienceInc.Allrightsreserved.PII:S1061-9518(01)00034-924Z.J.Linetal./JournalofInternationalAccounting,Auditing&Taxation10(2001)23±491.IntroductionTheChinesegovernmenti