Publications
Publications
- November 2009 (Revised August 2013)
- HBS Case Collection
IFRS in China
By: Karthik Ramanna, G.A. Donovan and Nancy Dai
Abstract
In 2005, China announced plans to "converge with," but not completely adopt, IFRS. China also began to lobby for changes to specific IFRS provisions, such as for related party disclosures by state-owned firms, to bring them more into line with Chinese interests. China's accounting system had already undergone significant reforms during the two decades when its economy had grown to become the fourth largest in the world. However, enforcement of accounting standards remained weak, the financial system was relatively immature, and large state-owned firms still dominated many sectors of the economy.
Keywords
Financial Reporting; International Accounting; Corporate Disclosure; Standards; State Ownership; Business and Government Relations; China
Citation
Ramanna, Karthik, G.A. Donovan, and Nancy Dai. "IFRS in China." Harvard Business School Case 110-037, November 2009. (Revised August 2013.)