The evolution and reforms of governmental accounting in China

Authored by: Zhibin Chen , Yan Wang , Ying Wang , Z. Jun Lin

The Routledge Handbook of Accounting in Asia

Print publication date:  August  2017
Online publication date:  August  2017

Print ISBN: 9781138189034
eBook ISBN: 9781315641867
Adobe ISBN:

10.4324/9781315641867.ch12

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Abstract

We cannot depart from a historical review in the study of any important accounting issues. Similarly, our understanding of significant accounting development should start with a historical review, analysis and probing (Guo, 1999). Governmental accounting has evolved in various forms or shapes over the long history of China, such as accounts for feudal dynasties, governmental accounting, budgetary accounting and the reshaped governmental accounting of the present time, which has been determined by the specific forms of imperial power and governmental authority and closely associated with the development of political and economic systems (Fang, 2001). Every significant change in the ruling regime and political or economic system has greatly prompted the evolution of governmental accounting with enriched practices and theories. Therefore, a historical examination of the evolution process will help our understanding of the essentials of governmental accounting, exploring the root causes and the trends of its development, assessing governmental accounting practices and the further reforms of governmental accounting in China.

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