Resumen
Basedon concerns regarding the usefulness of the current format of the financialstatements to assist users in making decisions and as part of the convergenceefforts of the IAS and GAAP, the Financial Accounting Standards Board (FASB)and the International Accounting Standards Board (IASB) created a joint project(2004) on financial statement presentation which resulted in the publication oftheir joint Discussion Paper, Preliminary View on Financial StatementPresentation. Prior research hasexamined the response of academics, preparers (CPAs) and US accounting students(future preparers). This paper extendsthat research by examining the reaction of Chinese accounting students, futureinternational preparers. While theChinese students show greater support for the proposals of the FASB and IASBthan the US students, the support is moderate.We believe the stronger support of the Chinese students for theproposals is primarily related to cultural issues as compared to the substanceof the proposals. The findings of thisstudy are consistent with findings of prior research. While the project is currently on hold thefindings of this study and prior research suggests that the FASB and IASBshould consider whether the proposals appropriately address the concerns inmaking the decision to renew this project.