This study analyzes the internationalization stages and the historical development of the People’s Republic of China (hereafter : PRC) in accounting principles. The main results of this study are as follows.
As 1st stage(1978-1992), in 1985 the accounting system of the company with foreign investment was launched in the PRC. And the Ministry of Finance of China(hereafter: MFC) proclaimed ≪China- Foreign Joint Management Company Accounting System≫. This is considered the starting point of the internationalization stage of Chinese accounting principles.
As 2nd stage(1992-2000), MFC proclaimed ≪Foreign Investment Company Accounting System≫ to foreign investment companies and ≪Financial Accounting Standards≫ to the domestic companies as a new accounting system in June 1992 and has been putting it in operation from July 1993. This periods are considered as the triangular position stage of accounting principles.
As 3rd stage(2001-2005), this periods are considered as the completion stage of accounting principles. The new unified ≪Accounting Principles of Company≫ was enacted.
As the fourth stage(2006-2008), this periods are considered as the establishment and completion of frame in accounting principles.
One of the most distinguishing feature in the internationalization stages of PRC was the pursuing of simultaneous harmonization in the between Chinese domestic special situations and “International Accounting Principles”.