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Professionalisation of accounting: China - Coggle Diagram
Professionalisation of accounting: China
Adopted "Reform and Opening-up" policy in 1978
Adopted policy of opening the economic exchange and projects to the whole world
State-centric focus
Deeply rooted western "democratic" states of theoretical frameworks
Chinese Communist Party
represented by the CICPA
Public accounting profession are known as CPA: certified public accountants
CICPA national professional accounting association
Reformed the education curriculum to internationalisation
CICPA had conflict with new CACPA
During the 20th century, development of accounting firm began
The Big Four international accounting firms
Draft tax laws, train CPAs, sponsor professors to train abroad, contribute to developing the audit and accounting standards
1960: Increase-Decrese bookkeeping method replaced Debit-Credit method
CPA system was revived in 1980
Established government-affiliated institutions(public universities)
Issues implicated for future research: Explorative and descriptive nature, strong state-centric focus and lack of understanding of accounting professionalisation in China.
Part of the IFAC accounting agency
A member of the CAPA in advancement of the global presence
Follow the IASB and IAASB