Business, Management and Accounting
8 years ago

China's 2001 policy reduces differences in accounting practices, benefiting businesses.

Journal of Contemporary Accounting & Economics
The Impact of Regulatory Enforcement on Harmonization of Accounting Practices: Evidence from China
J. Chen, Peng Cheng

Paper Summary

The Chinese Government's 2001 policy on accounting practices helped reduce differences between Chinese and international standards. Firms following the standards, not the standards themselves, led to this improvement. Effective enforcement can lead to better alignment with international standards.

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