Accounting Commons^™

Proposed Financial Statement Changes By The Fasb-Iasb: Reactions From Chinese Accounting Majors, Don E. Giacomino, Xin Li, Michael D. Akers

Accounting Faculty Research and Publications

Based on concerns regarding the usefulness of the current format of the financial statements to assist users in making decisions and as part of the convergence efforts of the IAS and GAAP, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) created a joint project (2004) on financial statement presentation which resulted in the publication of their joint Discussion Paper, Preliminary View on Financial Statement Presentation. Prior research has examined the response of academics, preparers (CPAs) and US accounting students (future preparers). This paper extends that research by examining the reaction of Chinese accounting students, future …