预览加载中，请您耐心等待几秒...

ComparativeanalysisofthefinancialreportinginPRCandUK.doc

预览
1/6
2/6
3/6
4/6
5/6
6/6

在线预览结束，喜欢就下载吧，查找使用更方便

下载提示 文本预览

如果您无法下载资料，请参考说明：

1、部分资料下载需要金币，请确保您的账户上有足够的金币

2、已购买过的文档，再次下载不重复扣费

3、资料包下载后请先用软件解压，在使用对应软件打开

Introduction Thefinancialreportingisthemostfundamentalwayinwhichacompanycommunicatesitsoperatingresultsandfinancialpositionstooutsiders.Andfromtheinternationalaccountingpointofview,theInternationalFinancialReportingStandards(IFRS),whichissetandpromotedbyInternationalAccountingStandardsBoard(IASB)(themostinfluentialorganization),isthemostwidelyacceptedandadoptedbytheeconomicentitiesintheworld,oneitheracompulsoryoronapermittedbasis.PRCandUKareincluded. 1.1AboutChina InPeople'sRepublicofChina,theconvergenceofitsaccountingstandardwithIFRSlargelyduetoitseconomicneeds,accordingtosomescholar,forinstanceJohnL.Haverty(2006),ChineseaccountingsystemisverydifferentfromtheUnitedStatesbutissupposedlybecomingmoresimilartoWesternaccountingsystemsduetoitsdesiretobecomemoreintegratedintotheworldeconomy.Chinahasnowbecomeanimportanttradingpartnerininternationalarena,andtheintegrationofChineseeconomyintotheworldmarketisatacceleratedpace.ItwillbebeneficialforChinatoharmonizeitsaccountingpracticeswithinternationalaccountingnorms.(Z.JunLin2001) 1.2AboutUK InUnitedKingdom,thecompanieslistedonastockexchangehavebeenrequiredtofollowInternationalAccountingStandardsintheirconsolidatedfinancialstatementsstartingsince2005.ThetransitionfromUKAccountingstandardstoIFRSandtheIFRSversionoftheTreasury’sFinancialReportingManual(IFReM)isthelargestchangetoUKpublicsectorfinancialreportingsincetheintroductionofresourceaccounting.(IFRS2008) Theinfluencingfactors Evenso,onechallengingaspectofinternationalbusinessisthefactthatnotwocountrieshaveexactlythesameaccountingstandardsorprocedures(Gernon&Meek2001).Diversityinaccountingstandardscanbecausedbycultural,economic,historic,legal,andpoliticalreasonssincetheaccountingsysteminaparticularnationreflectstheuniqueaspectsofthatnation. 2.1Fromthepointofpoliticalandeconomicsystem ChinaisasocialistcountrywiththepublicownershipofproductionmeansandacentralizedcommandeconomyinplacesincethefoundingofthePeople'sRepublicin1949.TheChineseaccountingsystemhaslongbeenframedtoserv