Evaluation of China's Experience in International Coordination of Accounting

Author: Wang Zhi'an
Publisher:
Publish Date: 2006-06-01
Features: The rapid development of global economic integration and cross-border capital flows has called for international comparability of accounting information. In April 2001, the International Accounting Standards Board (IASB) officially succeeded the International Accounting Standards Committee (IASC) as the issuer of international accounting standards, accelerating the process of international accounting harmonization worldwide and ushering in the era of global accounting standards. International accounting harmonization is generally driven by economic, political, and technical factors. The empirical evaluation conducted in this book focuses on the technical drivers of international accounting harmonization. To examine whether China's international accounting harmonization has improved the quality of accounting information, this book, drawing on the research findings of foreign scholars, emphasizes the measurement of harmonization degree and market response testing. The basic approach of this book is to divide the empirical evaluation of international accounting harmonization into two main parts: the measurement of harmonization degree and the testing of market response. The measurement of harmonization degree is further divided into the measurement of standard harmonization degree and the measurement of practice harmonization degree, while the market response testing includes a comparison of the usefulness of accounting standards and an evaluation of the harmonization effect. These four parts are independent chapters and constitute the core content of this book. Additionally, Chapter 1 provides an overall framework, including a realistic analysis of international accounting harmonization and theoretical preparation for its evaluation; Chapter 6 summarizes the research findings and limitations of the book and looks ahead to the prospects of China's international accounting harmonization.