Open AccessAccounting Standards Comparison between China and Russia
Author(s) -
Huan Chang,
Xia Chun-hua,
S. Liang
Publication year - 2022
Publication title -
journal of business theory and practice
Language(s) - English
Resource type - Journals
eISSN - 2372-9759
pISSN - 2329-2644
DOI - 10.22158/jbtp.v10n2p1
Subject(s) - accounting , presentation (obstetrics) , statement (logic) , financial statement , convergence (economics) , china , financial accounting , financial statement analysis , reciprocal , statement of changes in financial position , accounting standard , international financial reporting standards , business , economics , financial ratio , accounting information system , political science , macroeconomics , law , medicine , linguistics , philosophy , audit , radiology
Both Chinese and Russian accounting standards follow the IFRS convergence route, despite there being a difference in the degree of international convergence between the two countries. The article examines the specific criteria for financial statement presentation in China and Russia and discovers discrepancies in the basic requirements for financial statement presentation, financial statement composition, and information in notes to financial statements in both countries. The comparison in this article is used to provide theoretical guidelines for reciprocal economic investment between the two countries.