Home  Journals  International Accounting  12(402) - 2016 June

Comparison of Russian and Chinese balance sheets

Vol. 19, Iss. 12, JUNE 2016

Article PDF Version

Received: 22 March 2016

Received in revised form: 5 April 2016

Accepted: 28 April 2016

Available online: 28 June 2016

Subject Heading: Foreign experience

JEL Classification: 

Pages: 29-40

Subject The article analyzes information disclosure in Russian and Chinese balance sheets. The work is preceded by a series of articles considering the specifics of accounting for assets and liabilities in the two countries, differences in the composition of primary financial statements, characteristics of major provisions of laws regulating the accounting, and other issues.
Objectives The study aims to identify specific features of the content and formation of major balance sheet items in Russia and China and review their information value for potential users.
Methods I employed the comparison method to review major items of balance sheets of the two countries and the analytics of Chinese authors.
Results The analysis systematized main approaches to the format and content of balance sheets of the two countries. The paper includes explanations and recommendations on the comparability of this accounting form. The findings may be useful for developing a system of reporting by joint Russian-Chinese enterprises in trade, investment and other forms of cooperation. They may also be included in lectures and seminars of higher schools’ curriculum.
Conclusions The comparison shows that Chinese balance sheet is more detailed. There are methodological specifics of balance sheet formation in China and Russia that are described in the article. I also formulate recommendations and comments on the convergence of accounting items when comparing the balance sheets of the two countries.

Keywords: accounting, financial reporting, financial statements, balance sheet

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