Culture’s Impact on Business Functions58

Culture’s Impact on Business Functions58 -...

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Chinese Accounting Barriers to western accounting in China Absence of markets to determine “fair value:” financial instruments, property, brands, etc Inexperience with truthful record-keeping Overlapping government ownership of enterprises (“related party transactions”): 110,000 government-
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Unformatted text preview: owned companies (2010) – Economic system affects what information is sought • A centrally planned economy seeks info on production • Data of interest to bourgeois managers is costs, debt, depreciation, profit...
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