Accounting systems and structure of China Essay

Accounting systems and structure of China - Essay Example This is revealed through detailed comparison of the historical phenomena that occurred in Chinese accounting system over the years. Critical assessment of the effects of culture on development and transformation of Chinese accounting is discussed with a look at significant changes within institution’s value system that supported accounting structures (Luft, 2007). The development of Chinese accounting system adopted a new dimension in 1949 after the establishment of People’s Republic of China by Chinese Communist Party (Zhang, 2005). This marked the new phase of Chinese accounting where most of the financial models were adopted from the Soviet Union (Shalin, 1999). The development of the accounting system in China is divided into two distinct periods based on different legislative contents (GÃ ¼vemli, 2001). The Chinese economic system before 1979 was planned on socialist platform, where the Central Government and the Party were the chief controllers of the economic system. After the 1979, the open door policy as well as the economic reform led towards the evolution of China’s economic and legal system. The National People’s Congress (NPC) issued several laws including the PRC Accounting Law which marked the beginning of the development of Chinese accounting system. The reforms within the accounting system turned the Chi nese accounting system into a capital market that was based on financial reporting system. This served the market-oriented economy in the year 1992 bringing the Chinese accounting system towards standardization as well as internationalization (Ashbaugh and Pincus, 2001). The first phase of accounting law was issued in 1985 by National People’s Congress and later revised in 1993 and 1999. However, the Chinese government has used PRC Accounting Law as the basic law in China safeguarding accounting structures and system. The revised laws in 1999

The Effects of the Death of a Parent on Normal Child Development Research Paper

The Effects of the Death of a Parent on Normal Child Development - Research Paper Example The first major difference is of quality and organization of the information being used. The professionally reviewed article has used the appropriate terminology and information boundaries like population being analyzed are clearly defined which makes the scope and depth of article crystal clear. The abstract explicitly defines the issue, stakeholders and various aspects to be discussed in the article. The author has correlated the information with his personal experiences of abandonment in early age. The effects like depression, addiction, hopelessness, homelessness, split loyalty and uselessness among children, adolescents and adults are discussed with the help of specific examples and case studies. Expert opinions and professional theories are constantly referred in the article to draw intellectually sound inferences. The magazine article on the topic is rather general and instead of a professional review it takes the shape of author’s opinion on abandonment and parental lo se. Article boundaries are vague and the information is not backed by expert opinions and professional theories. The effects of parental loss and remedies are not discussed at length rather a suggestive approach is adopted to provide solution.