A Comparison of Accounting Practice Between China and Western Countries Based on Culture Factors

Abstract

China joined the International Accounting Standards Board (IASB) and adopted the China Accounting Standard (CAS) at year 2006 to keep pace with the International Accounting Standard (IAS). This is a synergetic step of China’s economy globalisation. And since the CAS is similar to IAS, is that means China’s accounting practice is equal to western countries? This paper discusses the different accounting performance and its reasons from culture angle.