Accounting and Business in Asia - Vol. 2
ACCOUNTING IN CHINA IN TRANSITION: 1949-2000
by Allen Huang & Ronald Ma (Griffith University, Australia)
The history of the People's Republic of China can be classified into two distinctive periods: Mao's China (1949–1978) and Deng's China (from 1979 to the present). Each period contains a number of sub-periods or phases, and each phase is characterised by one or more major political or economic events. This book gives an outline of the major events and the associated accounting changes over time.
During the period of Mao's rule, China experienced two violent political mass movements, which inflicted great suffering on the nation. There were few accounting developments in this period. In contrast, Deng's China set itself the ambitious task of transforming the centrally planned and centrally controlled economy into a market economy "with Chinese characteristics". There has been an accompanying development in Chinese accounting, in which its key role of serving the Government's planning and control needs is transformed into serving the information needs of decision-makers in the market-place.
The economic reform in Deng's China has made considerable progress, which is particularly evident in the urban and coastal regions. The transition from a planned economy to a market economy is incomplete and certain vexatious problems have yet to be resolved. The resolution of the state owned enterprise reform issues will set a precedent for the further reform of Chinese accounting.
Contents:
- Brief History of Accounting in China up to 1949
- Accounting in
Mao's China:
- Establishment Phase: 1949–1957
- Great Leap Forward: 1958–1962
- Recovery Phase: 1963–1965
- Cultural Revolution: 1966–1978
- Accounting in Deng's China:
- Political Scene in Deng's China
- Initial Economic Reform: 1978–1984
- Planned Commodity Economy: 1984–1991
- Socialist Market Economy Since 1992
- Towards a Successful Outcome for SOE Reform
Readership: Undergraduate and graduate students, academics, businessmen and
readers with an interest in Asian economic and financial affairs.
"This book is a usefully brief review of the development of the Chinese economy under communist rule and how that economic development was both served by and influenced the accounting systems employed over these years ... The authors provide a very good overview of the evolution of enterprise accounting, the training of the personnel involved, the development of the institutions required to modernize Chinese industry and accommodating the joint ventures that were negotiated."
| Journal of Asian Business |
"... the subject matter of some of the chapters necessitates the inclusion of a considerable amount of detail and critical analysis. The authors succeed in maintaining a readable prose style throughout most of the book."
| 136pp |
Pub. date: Dec 2001 |
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