Comparative Analysis Of State Accounting System Reform In China And Russia

The paper analyzes Chinese and Russian reforms in the sphere of accounting system. This study provides an overview of the evolution process of Chinese and Russian accounting standarts and system and tries to examine factors which have influence on accounting practices in the both countries.The countries were chosen due to the lot of conditions which make them comparable in this sphere. One the one hand, Russia and China have both once implemented planned economy; on the other hand, both are now major subjects of international economic relationships and WTO members. Since transparent accounting system is among the most basic requirements of the WTO, accounting reform (and public sector accounting reform in particular) is crucial for both countries. Therefore this research aims to assess the efficiency of accounting reforms in Russia and China and answer the question, whether the experience of one country can be used in the other one.