Accounting Practices for Financial Instruments: A Theoretical Framework of IFRS 9 Adoption in China
Abstract
The banking industry is commonly considered as an important part of the economy since it facilitates the capital flow and thus resources could re-allocate effectively in a region or even in the world. And just because of this vital function to the financial market and economy, banks are also criticized by their contribution to the financial crisis. IFRS 9: financial instruments is the international accounting rules set to make up for the deficiency. practice since 2018. This paper intends to study the international and national context for Chinese banks adoption of IFRS 9. In addition to filling the gap of the IFRS research, the result of this paper should be constructive for the decision-making process of foreign institutional investors, Chinese accounting standards setters and banking industry regulators.References
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