Аннотация: Both China and Russia are countries that have moved from a highly concentrated planned economy to a market economy. In both countries, economic system reforms have been implemented. The accounting systems of both countries began with the traditional accounting model of the former Soviet Union. Both countries determined that the accounting system should correspond to the direction of market economy reforms, and also showed a positive attitude towards the coordination of international accounting standards.
The financial statements in the form of written documents reflecting the financial and operating conditions of the enterprise play an indispensable role in the management of the enterprise. The purpose of this article is to compare the differences between the financial statements of the two countries by introducing the financial statements of China and Russia and identify problems that should be addressed in the preparation of the financial statements of the two countries.