USASBE 2008 Proceedings - Page 0571
Accounting Implementation Time (AIT)
Identification of Accounting Issues in China
Short Implementation Time (SIT) Intangible assets Inventories Fixed Asset valuation Leases-capitalization Accounts receivable Currency effects Cash flow statement
Long Implementation Time (LIT) Revenue recognition Disclosure R & D Cost Income taxation Borrowing costs
Entrepreneurial Information for Decision Making
IMPLICATIONS TO INTERNATIONAL ENTREPRENEURS
As noted from the above analysis and discussion, the differences in accounting approaches in the PRC and the US have several business implications. It has an impact on the way international entrepreneurship is practiced in a country like China. In this section, the definition of international entrepreneurship is qualified and strategic approaches for entrepreneurs are offered.
International entrepreneurship may be defined as a set of cross-border, value-creation approaches that integrate innovation, proactive action, and risk-taking propensities (McDougal & Oviatt, 2000).