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Previous studies have demonstrated significant discrepancies in financial results prepared separately under Chinese and international accounting standards. After years of reforms of Chinese accounting practices, there is still doubt as to whether previous discrepancies persist. This study therefore purports to evaluate the current dimensions of differences between the H‐share and the A‐share financial results.

Corresponding figures from H‐share and A‐share reports were obtained in pairs and analyzed through paired sample t‐tests.

Except for the result on operating income, all other t‐tests suggest that there is no significant difference between the paired figures of sales revenue, income before tax, net income, assets, debts and equity.

It can be concluded that the harmonization progress of Chinese accounting standards has advanced remarkably. Although full convergence has not been reached, the existing Chinese accounting standards have incorporated both the traits of international standards and the features of Chinese accounting practices.

Contrary to previous findings, this study did not identify statistically significant differences between H‐share and A‐share financial reports.

This paper seeks to assess the feasibility and desirability of a major emerging economy adopting and implementing fair value accounting (FVA), as codified in the International Financial Reporting Standards (IFRS), by studying China's recent experience.

The paper examines the extent of FVA adoption in China's new accounting standards (“2007GAAP”), reasons for differences from the International Accounting Standard Board's IFRS, and how 2007GAAP has been implemented in practice. Data are obtained from content analyses of IFRS and 2007GAAP FVA requirements, critical assessments of standard setters' official statements, and analyses of empirical evidence from official reports, media, and academic research.

The authors find a high degree of adoption of IFRS FVA standards in China's 2007GAAP for financial instruments, but many differences for non‐financial long‐term asset investments. Standard setters justify this divergence by fundamental characteristics of the Chinese environment. The resulting differences from IFRS in the 2007GAAP FVA standards, and in their implementation, challenge official claims of “substantial convergence” between 2007GAAP and IFRS. Hence, the benefits desired by Chinese regulators from adopting FVA and international accounting convergence to IFRS may not be realized.

The findings are derived from aggregated data in government reports. These findings can be extended in future research by examining specific implementation outcomes in company financial statements.

The paper contributes a timely critical examination of a major emerging economy's convergence with the controversial FVA requirements, which supports the IFRS's standing as a high quality set of accounting standards. The findings provide new insights into factors that can impede international accounting convergence in emerging economies.

Outlines economic and accounting reforms in China since the late 1970s and assesses the impact of the 1997 Asian financial crisis on them. Suggests that although China escaped the recession suffered by neighbouring countries, it still has a high risk of financial crisis/recession and enumerates the reasons why. Explains the steps taken by the government to reduce the risk, including reforms aimed at the standardization of accounting practices and improved reliability and comparability of financial information. Discusses the nine practical accounting standards issued between May 1997 and July 1999, which are in line with international standards and summarizes the reforms to enhance the independent status of public practitioners and the auditing standards issued so far. Identifies six remaining problems in the process of accounting reform but believes it is on the right track.

Since the Chinese government implemented its reform and open‐up policies in 1978 many western management accounting concepts and techniques have been introduced into China. The purpose of this paper is to investigate how Chinese management accountants have coped with the changes in the new economic environment and absorbed new ideas into their own practices. This paper also discusses the differences between the current Chinese management accounting system and the management accounting systems used in the western countries, and the obstacles in implementing western management accounting systems in China.

Both field study and survey approaches were used in this project. Six selected Chinese enterprises were visited. A questionnaire was distributed to all accountants in these companies.

This paper has found that the main obstacle for implementation of western methods is not political sensitivity, but the extent of technical constraints. The management information system (MIS) is under development in most Chinese enterprises, while the essential data for using western techniques, such as activity‐based costing, cannot be collected easily in the current situation. Nevertheless, changes in management accounting can be seen in some areas, such as the quality of products being promoted; the use of the responsibility accounting; and profitability as the key criterion for selecting investment projects.

This paper provides a comprehensive study about Chinese management accounting systems. The findings in the study will help western investors to be better prepared if they have set up a business in China or are going to enter the Chinese market.

Outlines the history of accounting in China and reviews the literature published in English on the full range of Chinese accounting issues. Summarizes the contents of three books, refers to sections in other books and analyses journal articles by period, journal, research topic and research method. Argues that this accounting research has historical, academic and practical value,believes it will continue to improve and calls for greater use of more rigid research methodologies in this area.

The purpose of this paper is to provide “Comments” on two previous papers in this journal about fair value in Chinese accounting. It extends those papers by considering developments since 2006.

The paper analyses the contents of Chinese Accounting Standards, dividing the references to fair value into several different categories. This analysis is compared to the findings of the two previous papers. This paper then re-assesses the evidence about the alleged pressures from international institutions on Chinese accounting.

The two previous papers greatly overstate the importance of fair value in Chinese accounting, partly through misinterpreting Chinese standards and partly because of a lack of caveat that the instructions about fair value often relate to special circumstances or unusual companies. The theorising about Chinese enthusiasm for fair value is misguided: the present author suggests that China became keen to adopt international standards despite their use of fair value not because of it, and that China removed much of the fair value when it adapted international standards. The extension of the analysis beyond 2006 provides a fuller coverage but does not alter the conclusions.

The earlier of the two papers examined has been extensively cited. Researchers need to be warned that the technical content and the conclusions of both papers are questionable. Authors should define terms clearly and should provide sufficient reference detail to enable readers to check findings.

Multinational companies, auditors and financial analysts should not be misled into thinking that Chinese accounting makes extensive use of fair value accounting.

This paper critically re-assesses two previous papers, starting with detailed technical data and moving through to the influence of international institutions. This paper also newly extends the analysis of Chinese standards beyond 2006.

The Chinese capital markets are divided into two segments comprising of A-shares (traded by domestic investors) and B-shares (traded by foreign investors). Firms issuing A-shares are required to produce accounting reports under the Chinese Accounting Standards (CAS) and firms issuing B-shares are required to report under the International Accounting Standards (IAS). The purpose of this paper is to investigate the comparative value-relevance of accounting information in the Chinese capital markets, in particular whether the value-relevance associated IAS exceeds that of CAS.

This study undertakes a capital market research approach. Two statistical models are employed to test the value-relevance of competing accounting information on share prices: the Price Model and the Return Model. This study takes advantage of the parallel reporting frameworks governing the A-share and B-share markets buy using the same firms which issue both A-shares and B-shares.

The analysis supporting the study demonstrates that both CAS and IAS information is value relevant to investors in the Chinese capital markets but that IAS provide more useful information. Additionally it is observed that reconciliation variables (representing the discrepancy between IAS- and CAS-based accounting figures) are not significant in explaining market valuation or returns on stock.

This study provides evidence of value-relevance of accounting reports on the Chinese capital markets for the period of 1999-2005. The period under investigation captures the significant development in China's accounting regulations which took place in 1998 and 2001. The recent shift in accounting regulations in China from CAS to IAS is expected to improve the dissemination of financial information by publicly listed Chinese firms.

This study investigates the reporting requirements on the Chinese capital markets during a period in which accounting reporting requirements underwent a significant change as part of the internationalization of accounting standards. Both A- and B-share markets were investigated simultaneously in order to provide an objective analysis and avoid sampling selection bias present in other studies.

The recent shift in accounting regulations in China from CAS to IAS is expected to improve the dissemination of financial information by publicly listed Chinese firms.

This paper extends previous research on value-relevance of accounting reports in the Chinese capital markets by capturing the period in which the reporting requirements had experienced significant change. This paper also takes advantage of the dual reporting framework in order to mitigate potential sampling bias present in previous studies and employs a reconciliation variables not previously used.

The introduction of International Financial Reporting Standards (IFRS) has brought about renewed calls for the learning environment to foster a deep approach to learning by students. Given this, the purpose of this paper is to determine what aspects of the learning environment, as measured by the Course Experiences Questionnaire, created in two semester-long financial accounting classes, influence students’ approaches to learning, as perceived by Chinese accounting students.

A logistic regression model based on responses from 497 accounting students across two universities in China is used to address this issue.

The findings provide original empirical evidence of the Chinese accounting students’ expectations of deep learning. The main results showed that teaching quality and clear goals and standards were significantly associated with a deep approach to learning.

As two universities are included in the study, the findings are not necessarily generalisable to all accounting degree courses across China. There are practical implications for the teaching of IFRS in the financial accounting unit in China, and particularly for the two universities. Specifically, instructors need to foster students’ learning environment and inspire an enhanced approach to deep learning by focusing more on communicating their expected academic standards and improving their quality of teaching to reverse the passive approach taken by the vast majority of Chinese accounting students.

As one of the few studies from a Chinese accounting classroom context with respect to the learning approaches to teaching IFRS, this study will contribute to extend the existing knowledge of the learning environment of Chinese universities.

The purpose of this paper is to examine China’s stop-start adoption of fair value accounting (FVA) into its national accounting standards. The paper analyzes how FVA standards promoted by transnational organizations were eventually adopted in China despite its conservative accounting traditions.

The study uses archival records and an analytic framework adapted from the studies of social movements to identify the institutional factors that differ between China’ first unsuccessful attempt to adopt FVA and its second successful attempt.

Shared interests of elite national and international groups, creation of social infrastructure, marshaling of key resources, and specific actions to frame FVA standards are found to be crucial factors supporting FVA reform in China.

The study helps advance our understanding of dissemination of international accounting regulations in non-Western societies. The findings can help accounting standard setters to avoid costly failures.

The study provides a structured analysis of the propagation of global accounting regulations. It exposes the factors in the failure and success of FVA adoption in China.

The purpose of this paper is to examine whether and how auditors’ and audit clients’ IFRS-related experience alters auditors’ pricing decisions in the initial years of IFRS adoption in China.

The authors conduct the analysis by examining audit fees from 4,129 sample observations that issued A-shares in the Shanghai and Shenzhen stock exchanges from 2005 to 2008. The authors empirically test the association between audit premiums and auditors’ and auditees’ IFRS experience.

The authors find that auditors with IFRS experience charged significantly higher audit premiums in the initial years of IFRS adoption. The authors also find that audit clients’ with IFRS experience paid significantly lower incremental fees. The authors further find that the increased fees charged by audit firms with IFRS experience are independent of the degree of changes in the financial reporting complexity of their clients. In contrast, audit clients with IFRS experience paid lower incremental fees only when they underwent a high degree of changes in financial reporting complexity.

First, it is the understanding that this study is the first to provide evidence on the effect of audit clients’ experience on audit fees. Second, the measure of auditors’ expertise is independent of audit clients’ decisions and is a less noisy measure. Third, the findings complement the existing evidence from other countries regarding the effects of IFRS convergence on audit fees. Finally, this study empirically tests the effects of changes in financial reporting complexity on audit fees.