European Business Schools Librarian's Group

HEC Research Papers Series,
HEC Paris

No 817: Searching for the accounting features of capitalism: an illustration with the economic transition process in China

Eve Chiapello () and Yuan Ding ()

Abstract: In this paper, the authors show that capitalism and double-entry bookkeeping are not indissociably interconnected as Sombart argued in his book in 1916. Indeed, the double-entry bookkeeping accounting system was also adopted by anti-capitalist countries where a new economic system was set up. A study of how accounting has changed with the economic transition in China helps us identify those "accounting features" required for a capitalist economy that clearly differ from those needed for the planned and centralized economy.

Keywords: capitalism; communism; accounting; China; reform; transitional economy

JEL-codes: B24; M41; P16

37 pages, January 1, 2005

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