Accounting education and practice in China: perceived problems and solutions
INTRODUCTION The economy of China has grown rapidly in the last decade since the economic reform of the 1980s. This is evidenced by the annual growth rate of GNP of 7-15 per cent. The deepening economic reform and expansion in China has resulted in a growing demand for both qualified accountants and accounting educators. There is, however, an acute shortage of qualified accountants in the country. Although Chinese accounting education programmes are, for the most part, well developed and reflect the progress made to date in economic reform (Winkle et al. 1992: 189), there are many problems facing Chinese educators, particularly in terms of the current adaptation to the 'Accounting Standards for Business Enterprises' (MOF 1992). More specifically, Chinese educators are facing significant challenges both in developing new curricula and in meeting the demands for professional accountants (e.g. certified public accountants, CPA) who are needed in the development of the market economy. The main aims of this chapter are to provide evidence of some of the practical problems facing accounting education in China and to present possible solutions to these problems.