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2010•Cai-mao jingjiRequires access

Debate over the Rationality of the International Financial Reporting Standards

Junhai Liu

Open publisher page 1 citations

Abstract

Literatures often refer to the International Financial Reporting Standards (IFRS) as the most advanced accounting practices in the world. However,this paper proposes two paradoxes which illustrate the faults in both the specific rules and the theoretical framework of IFRS. In order to establish sound legal system and applicable accounting regulations,China's researchers should explore a set of accounting regulations based on China's own legal system.

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What this paper is about

Literatures often refer to the International Financial Reporting Standards (IFRS) as the most advanced accounting practices in the world. However,this paper proposes two paradoxes which illustrate the faults in both the specific rules and the theoretical framework of IFRS. In order to establish sound legal system and applicable accounting regulations,China's researchers should explore a set of accounting regulations based on China's own legal system.

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OpenAlex reports 1 citations for this work. Citation counts describe recorded attention and do not establish research quality.

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Available abstract

Literatures often refer to the International Financial Reporting Standards (IFRS) as the most advanced accounting practices in the world. However,this paper proposes two paradoxes which illustrate the faults in both the specific rules and the theoretical framework of IFRS. In order to establish sound legal system and applicable accounting regulations,China's researchers should explore a set of accounting regulations based on China's own legal system.

Key concepts: Accounting, International Financial Reporting Standards, Rationality, China, Order (exchange), Accounting information system, Accounting standard, Business

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