Publication Details

This paper was originally published as Zhang, Y, Andrew, J and Collier, HW, The Convergence of IFRS in China: A view on the influence of political ideology on Chinese accounting profession, Proceedings of the ACE International Conference, Hong Kong, 12-14 December 2007.


A historical perspective lens may be useful to help people understand the world of accounting and accounting research. Some believe that the role that accounting plays in current society could be better understood by reviewing its historical association with the institutionalization development within which it operates. Accounting as it is practiced in capitalist system has been predominately viewed as a technical and context-free activity. However, if a meta-level concern addressing broad structural and institutional environment from which accounting emanated is absent, there must be doubt that the conventional accounting can claim to be comprehensible and to contain true information. This paper tries to explain why and how China moved from a uniform accounting system to IFRS and what the role the political ideology played during the process. By examining the development of China’s accounting regulatory change, the paper provides reasoning and evidence of how ideological factors affect accounting practice and theoretical construction.