Cite at least 2 credible sources from a library database as you answer the following questions. The articles are both attached to this assignment. I merely just need these questions answered based off these articles.

 

  1. Briefly describe the economic reforms that led to the need for increased external financial reporting in China.
  2. Conformity with International Accounting Standards was specified as the overriding objective in formulating China’s accounting standards. What is the author’s opinion on this objective?