ABSTRACT
The political and economic changes that have taken place in recent years in a number of countries, which were previously not well represented in the development of accounting at an international level, have given opportunities to observe the interaction between national traditions and international approaches in new and different environments. As countries have sought to promote international trade and economic growth, accounting has been seen as an important mechanism for facilitating such development. The People's Republic of China (PRC) is one such country where, over recent years, the economy has become more open to international interaction and where there has been major development in its accounting systems. This chapter reviews and evaluates the nature of accounting change that has taken place in China, particularly as judged against the benchmark of International Accounting Standards.
