EXPLORING THE DESIRABILITY AND FEASIBILITY OF REFORMING CHINA'S GOVERNMENTAL ACCOUNTING SYSTEM

In response to increasing pressures for public sector efficiency and effectiveness, many countries have switched from cash-based governmental accounting to accrual-based approaches. But other countries have rejected this change, suggesting that its costs and benefits may vary with country-specific f...

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Bibliographic Details
Published in:Journal of public budgeting, accounting & financial management accounting & financial management, 2008-01, Vol.20 (4), p.482-509
Main Authors: Chang, C Janie, Chen, Gongmeng, Chow, Chee W
Format: Article
Language:English
Subjects:
Accounting
Accounting systems
Accrual basis accounting
Budgeting
Cash basis accounting
China (People's Republic)
Costs
Economic development
Economic growth
Economic policy
Effectiveness
Expenditures
Fixed assets
GDP
Governmental accounting
Gross Domestic Product
Public sector
Reforms
Studies
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Summary:In response to increasing pressures for public sector efficiency and effectiveness, many countries have switched from cash-based governmental accounting to accrual-based approaches. But other countries have rejected this change, suggesting that its costs and benefits may vary with country-specific factors. To gain insights into the desirability and feasibility of changing China's governmental accounting from the current cash-based system to one based on the accrual approach, we survey 608 Chinese government staff and officials who either prepare or use such reports. These respondents identify a number of specific inadequacies in the current system and express widespread support for converting towards an accrual-based approach. They also assess the severity of potential impediments to change and the most workable arrangement and timetable for such a change. [PUBLICATION ABSTRACT]
ISSN:1096-3367
1945-1814