1. What are the benefits to China from adopting IFRS? 2. How do you think China should proceed with its IFRS policy? In particular, is IFRS "convergence" a better model for China than full adoption? 3. As an investor in China, what concerns, if any, will you have with financial reports prepared under China's IFRS-based standards? What steps would you want put in place to address those concerns? In other words, what do we need to make international accounting 'work' in China?" 4. What are the implications of this China scenario for the nature of IFRS globally? How should we think about setting accounting standards globally? What does it mean for a country to "adopt" IFRS?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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1. What are the benefits to China from
adopting IFRS?
2. How do you think China should proceed
with its IFRS policy? In particular, is IFRS
"convergence" a better model for China than
full adoption?
3. As an investor in China, what concerns, if
any, will you have with financial reports
prepared under China's IFRS-based
standards? What steps would you want put in
place to address those concerns? In other
words, what do we need to make
international accounting 'work' in China?"
4. What are the implications of this China
scenario for the nature of IFRS globally? How
should we think about setting accounting
standards globally? What does it mean for a
country to "adopt" IFRS?
Transcribed Image Text:1. What are the benefits to China from adopting IFRS? 2. How do you think China should proceed with its IFRS policy? In particular, is IFRS "convergence" a better model for China than full adoption? 3. As an investor in China, what concerns, if any, will you have with financial reports prepared under China's IFRS-based standards? What steps would you want put in place to address those concerns? In other words, what do we need to make international accounting 'work' in China?" 4. What are the implications of this China scenario for the nature of IFRS globally? How should we think about setting accounting standards globally? What does it mean for a country to "adopt" IFRS?
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